Online Reporter
Egypt’s trade ministry on Thursday introduced caps on bread prices as people braced for an increase in the cost of living following a revision of fuel prices.
The directive requires bakeries to display prices and volumes of their bread clearly on the storefronts.
It also prescribes penalties for overpricing.
President Abdel Fattah El-Sisi warned a fortnight ago that those accused of price manipulation would be tried in military courts.
The measure comes days after the government raised prices of fuel and cooking gas cylinders by up to 30 percent and 22 percent, respectively, amid rising energy costs linked to the ongoing US-Israeli war on Iran.
Inflation rang in at 13,4 percent last month, far lower than the record 40 percent recorded in August 2024, when a punishing economic crisis peaked.
It has since eased but left traumatised Egyptians getting by with a fraction of their savings. — Africa News
Tinaye Agere