The prime minister stipulated that the government would not allow price exaggerations, and attempts to exploit the situation.
Hossam El Din's statements are made amid an expected rise in prices due to the devaluation of the Egyptian pound on Thursday.
Prime Minister Mostafa Madbouli met Wednesday with large cement and steel manufacturers at the Cabinet's headquarters to discuss the hike in prices.
The decision stipulated that the sale of the bread would be 50 piasters for a 45-gram loaf, 75 piasters for a 65-gram loaf, and at LE 1 for a 90-gram, and LE 11.5 for a kilo of packaged bread.
The statement asserted that most of the commodities, especially food commodities, will remain stable.
Those were committed in less than one week.
A request to make an exception was made by the Energy and Environment Committee at the House of Representatives.
President Abdel Fatah al-Sisi announced a number of decisions aimed at alleviating the impact of inflation on millions of citizens.
Tesla said the worldwide price hikes will apply to the more expensive variants of Model 3, Model S and Model X, and there will be no price increase to the $35,000 Model 3.
Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.
The gold prices dropped about three pounds registering LE 614, 526.30 and 701.70 for one gram of 21, 18 and 24 carat gold respectively.
More Egyptians are turning to Botox and fillers to take a few years off their age. Egypt Today sits down with experts to further understand the industry.
Skyrocketing prices have led to practitioners buying cheaper devices and spare parts or manipulating the pulse width and duration.
European shares were supported on Wednesday by strength in oil stocks after U.S. President Donald Trump pulled the U.S. out of Iran’s nuclear agreement.
Oil prices rose more than 3 percent on Wednesday, hitting 3-1/2-year highs, after U.S. President abandoned a nuclear deal with Iran and announced sanctions.
The Supply Ministry denied any increase in the price of sugar after Egypt’s decision to raise the price of sugarcane purchased from local farmers.
Amid a decline in the Sudanese economy, bread prices have doubled due to a government ban on the private sector importing wheat.
The decree orders food manufactures to put price tags on their products in “clear and non-erasable Arabic”.
At 1430 GMT spot gold XAU= was at $1,302.72 an ounce, up 0.2 percent, while U.S. gold futures GCv1 for February delivery were up $7.80 an ounce at $1,305.00.
The dilemma over energy prices shows economic reforms, designed to eliminate a huge state budget deficit caused by low oil prices.