Commodity Prices in Egypt to Decline by the Weekend: PM

In a major move to relieve consumers and manage inflation, Egyptian Prime Minister Mostafa Madbouly has announced an imminent price cut in seven major categories of commodities. The rate of this reduction will range from 15% to 25%, going into effect by Saturday at the latest. The announcement was made during a press conference on Monday. In fact, the prices of several of these commodities have begun to fall since Monday. The Prime Minister stressed that the price would be clearly mentioned on all products, ensuring transparency and controlling price manipulation. The primary list of commodities being included in this price cut includes beans, lentils, dairy products, pasta, sugar, cooking oil, and rice. An agreement has also been reached with the Poultry and Egg Producers Union to provide a 15% discount on live and frozen poultry and eggs. This decision by the Egyptian Government showcases their commitment towards ensuring affordable living conditions for the citizens by proactively combating inflation and price hikes. Commodity price management is a key aspect of any country's economic policy, and this decision provides a relief to both consumers and market operators, stabilising the domestic trade environment.