Prices in Egypt rise, govt. struggles to control inflation

Prices in Egypt rose in the new year while the government struggles to control the raging rate of inflation.

Telecom companies raised the prices of their internet services, with state-controlled operator Telecom Egypt (TE) increasing the prices of its internet services by about 33 per cent, effective Jan. 5, according to a TE company official who asked not to be named.

Private providers Orange and Vodafone raised the prices of their internet services, presumably after obtaining National Telecom Regulatory Authority’s (NTRA) approval.

Headline inflation in Egypt was 34.6 per cent in the year to November.

Electricity prices are also soon set to rise by around 15 per cent on average, according to reports in local media. The electricity ministry has as of yet made no announcement.

On Monday, Egypt’s transport ministry raised the price of tickets on the Cairo Metro by up to 20 per cent, with a ticket for rides of nine stations or less rising to 6 Egyptian pounds ($0.19) from 5 pounds and tickets for some longer trips rising by even more.