Egyptians hit by soaring food prices as crisis bites

Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food prices. But for many, a money-saving tip from a state body has been the last straw.

As families have struggled to purchase household staples, an Egyptian government agency praised an alternative, cheap protein source – "chicken feet, good for the body and the budget". The advice drew widespread scorn on social media while lawmaker Karim al-Sadat slammed it as "divorced from the reality of the crisis".

The anger reflects the hardships of many in the Arab world's most populous nation, which recently had to ask for a $3 billion loan programme from the International Monetary Fund.

"The bread I used to buy for one Egyptian pound now costs three," said Rehab, 34, at a Cairo bakery, asking not to be named in full. "My husband makes 6,000 pounds ($242) a month, which used to last us all month but now runs out in 10 days."

In a country heavily reliant on food imports, prices have also shot up for staples such as cooking oil and legumes, putting the financial squeeze on many of Egypt's 104 million people.

Rationing signs in big supermarkets now warn customers they can each purchase only three bags of rice, two bottles of milk and one bottle of oil.

Reda, a 55-year-old civil servant and hospital janitor who provides for her family of 13, said frozen meat had more than doubled in price and is "no longer an option". "Even with two salaries, there's a lot I just can't buy anymore."

Egypt's economy was hit hard after Russia's invasion of Ukraine last February unsettled global investors and led them to pull billions out of the North African country.

The war sent wheat prices spiralling, heavily impacting Egypt, one of the world's largest grain importers, and piling pressure on its foreign currency reserves.

With costs driven up further by soaring global energy prices, official inflation topped 18 per cent in November, while billions of dollars worth of imported goods remain locked in Egypt's ports.

As the foreign currency crunch continues, the Egyptian pound has plummeted, losing 70 per cent of its value over 10 months. (AFP)

Pictured above: Egyptian pounds and US dollar banknotes