VAT to raise food commodities’ prices by 15%: Cairo Chamber

Food commodities’ prices are expected to jump by 15 percent within the coming period following the application of Value-added Tax (VAT) law.

Ashraf Hosni, a member of food division at Cairo Chamber of Commerce, told Amwal Al Ghad Tuesday that commodities’ prices are set to witness another hike due to the anticipated rise in dollar prices within the coming few days.

Although a massive number of commodities have been exempted from VAT, their prices would soar due to the increase in commercial products’ cost, the official noted.

He pointed out that food commodities’ prices are currently stable after being raised by 15-35 percent within the last two months.