The Egyptian price enigma: What's behind the rising costs?

The iPhone 15 was recently released on the American market at a maximum price of $1,099, equivalent to EGP 33,954. The price is still high compared to the income of most Egyptians, but far less than EGP 100,000!

World of Statistics, a research website affiliated with Georgia State University, conducted a study to see how much of a monthly salary citizens of different countries should expect to pay for an iPhone 15 Pro Max.

Egypt ranked first in 11 countries, including such troubled economies as Pakistan, Nigeria, Iran, and Argentina.

According to World of Statistics, an Egyptian citizen would need to pay 821 percent of their monthly salary to afford an iPhone 15 Pro Max.

The question here is not only about Apple products, which are typically pricey worldwide, or inflation, which reached a peak of nearly 40 percent in August, but unfair pricing, which has become so normalized in Egypt that Egyptians take the high prices for granted.

"Prices are going crazy nowadays, especially the prices of goods. Items like milk and eggs are rising steadily, let alone meat," Soha, a middle-aged housewife, said.

"Dining out was a fun monthly option for the family. With the jump in prices of many chain restaurants, it has become a far-fetched luxury. Also, ride-hailing car services are almost the only decent options for just a family trip, but their rates have become insane," Karima, a young Egyptian woman, complained.

In September, President Abdel-Fattah El-Sisi announced a series of measures to ease the financial strain on citizens, including raising the minimum wage for public sector employees from EGP 3,500 to EGP 4,000.