In inflation-hit Egypt, Eid sacrifices are a luxury

Menufia, Egypt: The cattle traders in the Ashmun market, north of the capital Cairo, jostled to lure customers into buying a buffalo or a sheep for Eid-ul-Azha, the annual Muslim holiday when custom requires a sacrifice.

But this year, with inflation in Egypt hitting record highs, customers seemed more interested in gawking at the cattle than buying any ahead of Friday, the first day of Eid-ul-Azha.

"Last year there was more business. This year, no one wants to buy cattle because of the increased prices," said one trader, Mohammed Masoud.

The cost of everything has gone up in Egypt since the country floated the pound late last year -- decreasing its value to the dollar by half -- and raised fuel prices.

Masoud fed his livestock fodder that cost 2.5 pounds ($0.14) a kilogram before the currency was floated. It now costs him seven pounds.

"A calf that cost 15,000 pounds last year now costs 30,000," he said.

Eid-ul-Azha is one of the holiest days in the Islamic calendar when the major pilgrimage takes place in Mecca, Saudi Arabia.

To commemorate Abraham accepting to sacrifice his son to God only for him to be provided with a ram instead, many Muslims sacrifice a sheep or a cow.