Egypt to reduce subsidised staple food prices

Egypt will lower prices of subsidised food staples from December, the state news agency MENA quoted Supply Minister Ali Moselhy as saying on Saturday.A bottle of cooking oil will cost 8.5 Egyptian pounds ($0.53) instead of 9.5, the price of sugar will decrease to 8.5 pounds per kilogram from nine, that of rice will be reduced to eight per kilogram from nine and flour will go down to 6.50 pounds per bag from 6.75, Moselhy said.