Egyptians face train, telecom price hikes amid decline in inflation rate

Egyptian government, on Monday, raised the prices of tickets for Cairo’s underground train (Cairo Metro) by around 20 percent.

The decision follows a decline in inflation rate, which dropped to 35.9 percent in November 2023, compared to 38.1 percent in October of the same year.

According to reports, officials at the underground stations said the price of a ticket for a journey of no more than nine stations now sells for six Egyptian pounds ($0.19) up from five Egyptian pounds, and those for a journey of no more than 16 stations have risen to eight Egyptian pounds from seven Egyptian pounds.

Alongside the transport hike, telecom companies raised the prices of their internet services, with state-controlled operator Telecom Egypt increasing the prices of its internet services by about 33 percent.

According to the telco, the hike is to take effect on January 5, 2024.

The report also said private providers such as Orange and Vodafone raised their internet fees, after approval by the National Telecoms Regulatory Authority.

Citing local media, the report said electricity prices might soon rise as well — by around 15 percent on average.

Meanwhile, the hikes are coming less than one month after Abdul Fattah al-Sisi, president of Egypt, won his third term of six years in office.

Al-Sisi’s administration is said to have come amid Egypt’s debt and soaring prices.