Hamdi Ali Abu Zeid, owner of Nile Supermarket in Aswan, has weathered economic ups and downs for two decades – but today's food price surge is unlike anything he's seen. 'We’re selling less while paying more. Even stable customers now buy only essentials,' he tells MyGlobalNews, describing how inflation reshapes daily life near Egypt’s iconic Nile River.
His storefront opposite Aswan Court once thrived on community trust. Now, staples like rice and cooking oil strain household budgets. 'I’ve had to reduce staff hours just to keep shelves stocked,' Hamdi explains, highlighting a crisis affecting businesses nationwide.
Egypt’s annual food inflation hit 61% this year, driven by currency depreciation and global supply shifts. The World Bank notes similar pressures across Middle Eastern economies, where food imports dominate. For young Egyptians, this translates to tough choices: A recent survey found 72% cutting non-food spending to afford meals.
While government subsidies provide some relief, small businesses like Nile Supermarket face existential threats. 'We need solutions bridging global markets to local realities,' says Hamdi, voicing a challenge resonating globally as climate and economic volatility reshape food security.
Reference(s):
cgtn.com
