Egyptian prime minister sets fixed price for unsubsidised bread

Egyptian traditional loaves of bread are seen on shelves from the oven at a bakery in Cairo's southeastern Mokattam district, as the prices of basic goods in Egypt have risen since Russia?s invasion of Ukraine, in Egypt, March 16, 2022. REUTERS/Amr Abdallah Dalsh

Egypt has set a fixed price for unsubsidised bread in an effort to counter rising food prices after Russia's invasion of Ukraine closed off access to lower-priced Black Sea wheat.

Prime Minister Moustafa Madbouly on Monday set the price of commercially sold bread at 11.50 Egyptian pounds ($0.66) per kg, his office said in a statement.