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Will Bread Prices Increase in Egypt Following the Recent Price Hike in the Country?

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The bakery department of the Federation of Chambers of Commerce reported that the price of subsidized bread in Egypt was raised after food prices increased starting Monday for the first time since 2019.

Attia Hammad, head of the bakery department, told the Egyptian website Cairo 24 that the department has not been notified of any price increases for subsidized bread in the next phase.

The head of the bakery department added that the department had nothing to do with any discussions with the government about increasing or decreasing subsidies, and that the department was merely a conduit for government decisions.

Prices for subsidized bread have not changed in Egypt for about 30 years, and a loaf of bread is sold for 5 piastres, and there are 5 loaves per person per day.

The government announced the partial removal of subsidies on some food items, officially including butter, sugar and rice, and an official document showed that Egypt’s Ministry of Supply and Internal Trade had raised the price of most subsidized items sold to more than half of the population, as of Monday.

Among the goods that rose in price was a bottle of vegetable oil, which increased to £30 ($0.97) from £25, and a kilo bag of sugar and rice rose to £12.60 from £10.50.

More than 60 million people in Egypt, the largest Arab country by population, benefit from a subsidy system whereby every household with a ration card receives LE 50 ($1.62) per person per month to buy about 32 items, including including pasta, flour and legumes at subsidized prices.

The government has shelved plans to raise prices for subsidized bread, which have not changed for decades, after the consequences of the “war in Ukraine”.

Source: Cairo 24

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