Egypt institutes price controls for bread
Bread prices in Egypt have increased considerably since the Russian invasion of Ukraine. Egypt receives the majority of its wheat from the two Eastern European countries.
The Egyptian government fixed the price of bread today.
Prime Minister Mustafa Madbouly declared that the price of 1 kilogram (2.2 pounds) is 11.5 Egyptian pounds ($0.63). The regulation applies to nonsubsidized bakeries, the state-owned news outlet Al-Ahram reported.
Violators could face fines between $5,500 and $275,000 if caught, according to the outlet.
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