Govt report: Rice, meat, fish prices rose in August

Local rice, meat and fish prices were higher in August than July, an Egyptian government report said on Tuesday.

The price of one kilo of rice jumped 9.3 percent to LE5.88, according to the report, which was prepared by the Central Authority for Public Mobility and Statistics (CAPMAS). Egg prices also rose 7.9 percent, reaching 68 piastres for one egg, the report said.

Tilapia prices reached LE15.12 per kilo in August, 3.4 percent higher than the price in July. Meat prices also jumped by 2.6 percent to LE58.61 per kilo.

Compared to August of last year, the price of one kilo of dry beans rose 56.6 percent; sugar prices rose 35.5 percent; and cotton seed oils rose 35.4 percent, reaching LE9.53 per liter.

Experts believe local prices have been impacted by rising international rates. They also attribute the hikes to political instability and an absence of security, which allows traders to collectively dominate the market and make unjustified price increases.

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