Egypt raises prices of most subsidised goods, bread unchanged

Egypt raises prices of most subsidised goods, bread unchanged

Plans to raise the price of subsidised bread, which has been unchanged for decades, are postponed after fallout from the war in Ukraine

A young worker stacks trays of freshly-baked bread at a bakery at downtown Cairo on March 12, 2023. — AFP file

By Reuters Published: Mon 1 May 2023, 4:24 PM Last updated: Mon 1 May 2023, 4:25 PM

Egypt's supply ministry raised the prices of most of the subsidised goods sold to more than half the population from Monday, a document seen by Reuters showed.

The hikes included a bottle of vegetable oil increasing to EGP 30 ($0.97)from EGP 25, while 1 kilogram sacks of sugar and rice rose to EGP 12.60 from EGP 10.50.

More than 60 million people benefit from a system where each household with a ration card receives EGP 50 ($1.62) per month per person to buy around 32 goods at subsidised prices, including items such as pasta, flour and fava beans.

The government also provides heavily subsidised bread to more than 70 million of its 104 million citizens. Plans to raise the price of subsidised bread, which has been unchanged for decades, were postponed after fallout from the war in Ukraine.

Egypt, a major importer of basic commodities such