Many people are afraid of the prices of goods in the coming period, especially since the dollar has witnessed noticeable increases in the recent period… I wonder if the prices of goods will be affected by the rise in the exchange rate or how the world will go… Stay with us until the end and you will find out the details in this report.
Many people are currently concerned about a rise in commodity prices with the recent increases in dollar prices, especially since we are entering a new year, and there will be a meeting of the Monetary Policy Committee at the Central Bank at its beginning, and of course the decisions that emerge from it affect everything in the country in particular. Prices, and the prices of goods in particular, increase as soon as any rumors leak about the imminent introduction of new price increases, and merchants long before them, unfortunately, have stored large quantities of goods in order to return. They sell it when prices rise and benefit from the price difference.
Ok, will the prices of goods really rise in the coming period?
The Foodstuffs Division of the Chambers of Commerce said that the prices of basic food commodities in Egypt will not witness any new price increases, and this is after the dollar officially broke the 50-pound barrier in some banks in Egypt.
The Chamber also said that it is not in the interest of the merchant, the importer, or the citizen to increase the prices of goods, and that the state is currently making very many attempts to avoid an increase in the prices of goods in the coming period, even if the dollar exchange rate rises more than that, and if there is an increase, it will be by a very small percentage. It will not affect the Egyptian market in any way, whether the merchant, the consumer, or even the importer.
The Division also said that the moves taken by the government over the past months, and the provision of various types of goods in the official outlets spread throughout all governorates of the Republic, will limit the presence of any increase in prices. This is other than the new outlets that the state occupied during the past few days, which are related to the outlets. One-day markets, the aim of which is to increase the quantities of food commodities, meat, poultry, vegetables and fruits offered to citizens in the markets, control their prices and end the monopoly of goods by merchants. Especially since these outlets are the main reason for the stability of prices in Egypt during the entire past period.
The General Authority for Supply Commodities also came out and confirmed that the increase that occurred in the exchange rate of foreign currencies in Egypt is a very limited increase and it is very difficult that it affects the prices of goods in Egypt, and if it does have an effect, it will be on imported goods, not local goods.
For his part, Engineer Matta Bishai, Chairman of the Internal Trade Committee of the Importers Division of the General Federation of Chambers of Commerce, confirmed that the markets are witnessing a state of stability during the current days, following the increase in the price of the dollar against the pound during the past week.
