Egyptian authorities impose caps on prices of bread
On Thu, Egypt's Ministry of Trade implemented new regulations capping bread prices in response to anticipated cost increases following a recent fuel price adjustment.
On Thu, Egypt's Ministry of Trade implemented new regulations capping bread prices in response to anticipated cost increases following a recent fuel price adjustment.
The new directive mandates that bakeries must display the prices and volumes of their bread products prominently on their storefronts. Additionally, penalties will be enforced for any instances of overpricing.
President Abdel Fattah El-Sisi announced last week that individuals found guilty of price manipulation will face trial in military courts.
On Thu, Egypt's Ministry of Trade implemented new regulations capping bread prices in response to anticipated cost increases following a recent fuel price adjustment.
This regulatory measure coincides with the government's decision to increase gasoline and cooking gas cylinder prices by up to 30% and 22%, respectively. These changes are a response to rising energy costs associated with the ongoing geopolitical tensions.
Inflation was recorded at 13.4% last month, showing a decrease from the 40% peak in August 2024, which was part of a severe economic crisis. Although inflation has eased, many Egyptians continue to cope with reduced savings.
Based on reporting by Africanews.
