Egypt gov't moves to cushion citizens from rising inflation
476 views · Published 24 November 2015 · 0:37 · Indexed 25 October 2026
Channel: CGTN Africa · 2015 · News & Politics
Egypt has moved to put price controls on 10 essential commodities as a way to cushion its citizens from adverse effects of rising inflation. The Prime minister's office says prices of foodstuff which include livestock, frozen meat, poultry, fish, wheat, sugar and rice among others, will be put on check by the government. The statement follows President Abdel Fattah al-Sisi promise last month of greater state intervention in curbing price increases.The move comes as the country tries to keep inflation in check amid a shortage of foreign currency. Egypt's annual consumer inflation rose to 9.7 percent in October, from 9.2 percent in September.
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