Electrical Appliances Division: Prices in Egypt Exceed Fair Value, Companies Refuse to Cut

The deputy head of the Electrical Appliances Division said prices in Egypt are above fair value and that companies have not reduced them despite the stable dollar.

• Sherif Salah, deputy head of the Electrical Appliances Division, said that appliance prices in Egypt exceed their fair value.
• He stated that the dollar's stability at around 50 EGP should have led to price cuts, but none have occurred.
• He attributed the lack of reductions to companies citing geopolitical tensions, rising shipping costs, and higher global raw material prices for copper, aluminum, and plastics.
• He noted that companies have maintained price increases of 25 to 30 percent imposed in March and April.