Egypt to regulate unsubsidised bread prices
Egyptian government is preparing a plan to regulate bread prices which soared to record highs in the past few months, the Egyptian Cabinet said in a statement.
The price of flour has dropped by approximately 35 per cent, from 28 EGP to 18 EGP per kilogramme, following the availability of the foreign exchange resources.
The ministry will take charge of determining the pricing and weights of bread, using the cost calculation for each weight as a basis.
The coming days will witness the formation of a supreme committee to monitor the prices of unsubsidised bread in light of flour prices and cost inputs.
