Hike in Prices of Household Appliances in Egypt
If you need that washing machine or stove, buy it now!
The prices of household appliances will be increased by 7-8% by the Chamber of Engineering Industries due to the increase in fuel prices, as seen on Egypt Today. The Head of the chamber, Mohamed el-Mohandes, stated that the increase in prices is based on the increase in raw materials and also denounced local traders who have raised their prices ahead of the increase by 15% despite knowing full well that this was well above the increase in prices.
Mohandes stated that the amount of fuel used to produce household appliances is approximately 7% and the increase in transportation costs must be taken into account, however the chamber is not responsible for large increases in prices, according to Egypt Today.
Ever since June 16th, when the fuel subsidies were lowered to 25% and prices of fuel have increased with 95% octane costing EGP 7.7 per litre, 92% costing EGP 6.75 per litre. The prices of cooking gas has also increased, the price of the home cooking gas cylinder is now EGP 50 and the commercial gas cylinder is now EGP 100 as opposed to EGP 60. With the new increase in fuel prices, many commodities will increase as well however some traders and vendors have increased their prices more than is necessary to accommodate the increase in purchase costs.