Feature: Egyptians suffer from price hikes during Eid al-Adha


CAIRO, July 9 (Xinhua) — The competition of Eid al-Adha this 12 months will not be blissful for Mahmoud Ahmed as he’s unable to purchase new garments for his 4 kids as a result of excessive costs of commodities in Egypt’s capital Cairo.

“My children needed to put on outdated garments as a result of I couldn’t purchase them new ones for the feast. The costs are unbelievable,” Ahmed, a 38-year-old supply man with a restaurant, informed Xinhua.

Eid al-Adha, or the Feast of Sacrifice, is likely one of the most anticipated celebrations within the Islamic world.

By custom, households ought to ritually slaughter an animal, often sheep or cow, during the four-day competition so long as they’ll afford it. People additionally all the time purchase new garments for teenagers and put together sweets to serve visiting family.

During the competition, well-to-do households sacrifice animals and distribute the meat to low-income households, pals and family.

“I did not purchase a sacrificial animal as a result of I can’t afford it,” mentioned Ahmed, including “even my pals who used to sacrifice couldn’t purchase a sheep or a goat this 12 months due to their skyrocketing costs amid the inflation.”

Ahmed plans to spend a great time together with his household at a public park as “the kids have to benefit from the feast.”

Egypt’s annual inflation price rose to fifteen.3 % in May in contrast with 4.9 % in the identical month final 12 months, based on Egyptian Central Agency for Public Mobilization and Statistics.

To curb the inflation, the Egyptian authorities adopted a parcel of financial measures to soak up shocks from the worldwide inflationary pressures amid the Russia-Ukraine battle and the lingering COVID-19 pandemic.

In April, the Central Bank of Egypt determined to boost key rates of interest by one % for the primary time since 2017. And the Egyptian cupboard set a set price for unsubsidized bread for 3 months as of April in an effort to make sure meals safety for many who primarily depend upon bread of their meals.

“Demand for sacrificial livestock may be very low this 12 months,” Abdu Mohammed, a livestock vendor in Cairo, informed Xinhua.

“People can’t afford the animals at these excessive costs,” Mohammed attributed the price hikes of livestock to the inflated costs of imported fodders and medicines.

Mohammed famous that he has solely bought lower than half of final 12 months’s gross sales till now, expressing hope that he may promote extra during the remaining days of the feast.

According to Egypt’s Chamber of Commerce, the costs of sacrificial animals in 2022 elevated by 30 % in comparison with final 12 months.

Source link