Price rises in Egypt include 50% hike in baby milk

Importers of baby milk in Egypt have raised the price by 50 per cent, Moheet news network reported on Monday. The chairman of the Pharmacies’ Committee of the General Syndicate of Pharmacists announced this development as part of the wave of price hikes hitting Egypt.

Mohamed Al-Abed noted that this will cause a crisis for many Egyptians. All brands of baby milk sold in pharmacies will be affected by the increase within 48 hours, he explained, although milk designated for families of serving army personnel and the childhood and motherhood departments in the governorates are excluded from the new prices.

The move comes after days of price hikes in fuel and other basic commodities in Egypt as part of the austerity measures imposed by the International Monetary Fund as the conditions for a $12 billion loan to the government of Abdel Fattah Al-Sisi. Egypt’s economy is failing under the control of the army, despite generous assistance from a number of countries, including the US, UAE and Saudi Arabia.