The head of the electrical appliances division at Cairo Chamber of Commerce, Ashraf Helal, announced that the electrical appliances market has witnessed a significant price increase of up to 10 percent due to several factors.
The biggest of these is the US-Israeli war on Iran, which has greatly impacted maritime navigation and consequently the costs of ship insurance, global shipping, and raw materials.
Hilal explained that the rise in the US dollar exchange rate at banks from LE47 to LE55 has directly impacted the import of production inputs, which in turn has impacted the price of the final product.
This matter is further compounded by the increase in fuel prices, which has negatively impacted domestic transportation costs.
The head of the electrical appliances division pointed out that the market has recently experienced a recession exceeding 50 percent, due to the high prices of appliances over the past two years, in addition to citizens being preoccupied with other priorities such as school expenses and food.
