Consumer Protection Agency Enforces EGP 2M Fine on Inflated Prices
Egypt’s Consumer Protection Agency is enforcing an EGP 2 million fine on retailers inflating food prices.
The Consumer Protection Agency in Egypt has launched a campaign to regulate unreasonably hiked prices. They will enforce fines of up to EGP 2 million on vendors that don’t follow official price breakdowns.
The decision hopes to stabilize and combat inflated pricing across the food industry.
The Consumer Protection Agency is also holding nationwide inspections to vendors and retailers to curb sales violations and ensure the availability of commodities.
According to consumer protection laws, selling pre-stored necessary commodities and selling them with recently increased or inflated prices is also prohibited, and could lead to a minimum of one-year jail time and fines ranging from EGP 100,000 to EGP 2 million.