Cairo – April 7, 2024: Egypt is preparing to launch two applications in July as part of efforts to curb price inconsistencies, enabling users to view and report commodity prices, according to a cabinet statement.
The first application, called Price Radar, allows users to search and compare prices of items in stores nearby, and contribute to the app by adding details such as item prices, store names, and location.
The second application, for complaints and reports about products sold in local markets, will be developed by the Information and Decision Support Center (IDSC) in coordination with the Consumer Protection Agency.
During a meeting with the Prime Minister, Deputy Prime Minister and acting head of the IDSC, Osama El-Gohary, reviewed the changes in prices for a number of strategic commodities, including sugar, cooking oil, and pasta.
Commodity prices in commercial chains declined 9-29 percent across 23 governorates within a week of the government instructing local manufacturers, suppliers, and retailers to lower prices by the end of the Eid Al Fitr holiday.
El-Gohary reviewed future initiatives to stabilize market prices, highlighting several proposals including sharing data on food production and distribution companies registered with the Ministry of Supply and Internal Trade, and a new electronic tracking system for strategic products to monitor production, distribution, and storage volumes.
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