CAIRO, Dec 26 (MENA) - Prime Minister Mostafa Madbouli gave orders to government ministers to provide a sufficient stock of various types of basic commodities, stressing the need to continuously monitor markets and control prices.

There is a need to tighten control through coordination between the relevant state agencies and bodies to achieve discipline in the markets and prevent monopolization of any commodity, Madbouli said.

This came during the chairmanship of Madbouli Thursday evening of the Market Control Output and Commodity Prices Committee meeting.

Assistant to the Prime Minister and Head of the Information and Decision Support Center (IDSC) Osama El-Gohary briefed the cabinet on analyzing inflation trends and field monitoring of markets and commodity prices.

Gohary spoke about the trends of inflation rates globally from 2024 to 2026, indicating that inflation rates are expected to decline in many regions of the world during this period, with a decline in these rates in emerging and developing markets.

The head of the IDSC then moved on to review the results of the World Food Price Index, during the period from January to November of last year, indicating that the index achieved its highest level since April 2023, while the global price indices of grains, sugar and meat declined during last November compared to the previous October.

He then discussed the development of the inflation rate in Egypt on a monthly and annual basis for the entire republic during the period from November 2023 to November 2024.

The inflation rate decreased on an annual basis during last November, to record 25%, and the inflation rate also decreased on a monthly basis to record -0.1% last month compared to about 1.5% during October.

The reason for the decline in prices during November 2024, compared to October 2024, is due to the decline in prices of some commodity groups, most notably the "vegetables group," which witnessed a decline in prices by 12.4%, in addition to the declines that occurred in each of the meat and poultry by 3%, the fruit group by 0.4%, and the cereals and bread group by 0.3%. (MENA)
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