Rising cost of bread tops Egypt's five economic woes

0 Comments | AFP, March, 2008

CAIRO (AFP) — The Egyptian government has begun taking measures to tackle growing public discontent over the sky-rocketing prices of five staples of the economy -- bread, rice, pasta, cement and steel.

On Friday the authorities announced plans to suspend rice exports for six months from April and the commerce ministry said cement exports will also be frozen over the same period in a bid to combat price rises.

Official figures show staple food prices spiralling in Egypt, the world's largest consumer of bread, by 26.5 percent in a year.

"Rice is a staple food in Egypt and the main substitute for pasta whose price has gone up following wheat price rises on the international market," Sayyed Abul Komsan, adviser to Commerce Minister Mohammed Rashid, told AFP....