Egypt to set "fair price" for basic goods

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Egypt to set "fair price" for basic goods

STORY: Egypt to set "fair price" for basic goods DATELINE: Dec. 19, 2022 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the exterior of Egypt's Ministry of Supply and Internal Trade in Cairo 2. Egypt's Minister of Supply and Internal Trade Ali al-Moselhy accepting media interview 3. various of goods in a supermarket and customers doing shopping STORYLINE: Egypt's Supply and Internal Trade Ministry said on Sunday it had formed a committee to set "fair price" for 10-15 strategic and basic commodities after annual inflation reached five-year highs. While the statement said prices were not compulsory except for rice, it stated there would be inspections of stores across the country and possible legal action against those who do not adhere to the prices. Egypt's annual headline inflation hit 18.7 percent in November, according to official data, while core inflation, which strips out more volatile items, reached 21.5 percent. On Friday, the International Monetary Fund approved a 46

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