Ramadan lantern prices soar in Egypt as inflation hits record high

(MENAFN) Ramadan lanterns, also known as fanoos, have become an expensive commodity this year in Egypt as the country battles with record-high inflation. These lanterns are a quintessential symbol of the holy month of Ramadan and are used to decorate homes and public spaces during the festivities. However, due to a rise in the price of raw materials and other costs, local manufacturing has dropped, and vendors in Cairo's commercial districts are selling much smaller spreads of lanterns compared to previous years.

According to Barakat Safa, vice president of the Stationery and Toys Division at Cairo's Chamber of Commerce, the cost of materials required to make Ramadan lanterns has increased by 50%. He predicted that prices for consumers could rise by around 60% this season. As a result, the price of lanterns available at a wholesale store in Al Mosky's Jews' Alley, a popular shopping district in central Cairo, ranged between 30 and 150 Egyptian pounds ($1 - $5), which is higher than the prices last year.

Mohamed Farag, the store owner, stated that cheaper lanterns are small and made of plastic with little craftsmanship. They often come with cheap sound chips that play Ramadan songs at the press of a button. These lanterns could be bought for under 10 Egyptian pounds from certain street vendors last year, but this year, they cost 30 pounds at Mr Farag's store. He further explained that since he is a wholesaler, most of his customers are other stores or vendors who buy them in bulk, which means that the price for regular consumers will likely be around 10 or 20 pounds higher than his prices.

Ramadan is a holy month in Islam, and it is a time of reflection, fasting, and prayer. The lanterns have become an essential part of the festivities and are used to light up homes, mosques, and streets at night. The rise in prices has caused concern among lower-income Egyptians, who may not be able to afford to buy these decorations this year. The surge in prices of Ramadan lanterns is yet another example of how inflation is affecting the daily lives of Egyptians, who are already grappling with rising food prices and other essential commodities.

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