During the implementation of the price reduction initiative, Egypt’s commercial chains have observed a series of price decreases. According to the Cabinet’s statement, these reductions have ranged from 5.7 percent to 32.5 percent. Additionally, retail stores have reported positive developments, with essential goods experiencing notable price reductions between 4.2 percent and 25.1 percent.
The following points were discussed during a meeting presided over by the Prime Minister Mostafa Madbouly, which focused on overseeing market control measures and commodity prices. Madbouly underscored that these endeavors have played a role in reducing inflation rates.
Additionally, it was emphasized that the government is fully committed to working with the banking sector to guarantee an adequate supply of foreign exchange reserves for the purchase of a wide range of goods. These joint efforts are essential in upholding price stability.
According to Egypt today website the recent data from the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s annual headline inflation rate has shown a significant decrease. In May, the rate dropped to 27.40 percent from April’s 31.80 percent. This downward trend is consistent, as March saw a 1.30 percent decrease from the previous month, leading to an annual headline inflation rate of 33.10 percent.
