Price hikes for food, medicine

Price hikes for food, medicine

On

Thu, 07/02/2013 - 19:18

The overall index of food prices went up by 1 percent last week, said Osama Sultan of the Federation of Egypt Chambers of Commerce (FECC).

“Prices of rice went up 14 percent, and poultry 15 percent,” he noted.

Yasser al-Shazly, an economic researcher, attributed the rise in poultry prices to a rise in the price of feed, and to bad weather conditions.

An FECC report said several medications have also gone up in price due to the dollar rising by 12 percent against the Egyptian pound, which affects the cost of imported raw material.

The report added that there is a shortage of 100 types of medicines.

The price of local fava beans went up from LE9 to LE10 per kilo, and of imported fava beans from LE5 to LE6 per kilo, while the average price of sugar rose from LE0.50 to LE0.60.

Packaged tea prices went up 5 percent, and prices of detergents and pesticides rose 6 percent.

Edited translation from Al-Masry Al-Youm