Egyptians flock to gov't-backed Ramadan fairs for relief amid cooling inflation

by Mahmoud Fouly

CAIRO, Feb. 16 (Xinhua) -- Beneath the gleam of festive lights and swaths of colorful Ramadan decorations, a different kind of "pilgrimage" is underway in Cairo.

At the government-sponsored "Welcome Ramadan" fair in the Nasr City district, the ritual of preparing for the holy month has merged with the practicalities of modern economics. Here, families weave through a labyrinth of bustling booths, their shopping baskets filled not just with dates and decorations, but with the promise of financial relief.

"The prices are very good, and the exhibition has everything," said Umm Fatima, a housewife navigating the aisles. While the savings might not always be dramatic, she noted that the convenience of finding supermarket staples, fresh vegetables, and seasonal delicacies all under one roof has made the trip essential.

For Fatima and many others, this 10-day fair, running from Feb. 10 to Feb. 19, is more than a market spanning 3,500 square meters with around 120 exhibitors. It is an annual strategy session for the household budget.

Escalators carry a steady flow of visitors between two bustling floors lined with tightly packed booths, where the air hums with the calls of vendors and the chatter of families comparing prices. Stacks of pasta form miniature towers, pyramids of sugar bags stand ready for weighing, and trays of glossy dates, stuffed with almonds and nuts, are arranged like jewels.

The scene unfolds against a backdrop of economic recovery. After a prolonged period of scorching inflation that peaked at 38 percent in September 2023, Egypt's annual headline inflation had cooled to a more manageable 10.1 percent as of January this year, down from 10.3 percent one month earlier, according to the country's statistics authorities.

Yet the memory of strained budgets lingers, transforming fairs like this one into vital economic stabilizers. By offering discounts of 15 to 30 percent below market prices, the government aims to tame price volatility just as household consumption spikes during Ramadan.

Egyptian economist Waleed Gaballah, a member of the Egyptian Association for Political Economy, Statistics and Legislation, described such fairs as a tradition that has evolved into a necessary market regulator.

"When goods are offered at fair prices in these exhibitions, other traders cannot raise their prices significantly beyond those levels," Gaballah explained. "They help ease financial pressure on families who shop there and also exert a positive influence on overall market pricing."

At a bustling booth, vendor Hussein Ahmed carefully adjusted a display of dates-filled boxes as customers lined up.

"We are offering discounts. A kilogram of dates is sold at 40 pounds (around 0.86 U.S. dollar) instead of 50 pounds, while a three-kilogram box of another type is offered at 150 pounds instead of 200 pounds," Ahmed said.

Nearby, Islam Hegazy was shopping with his wife and three children, their baskets filled with pasta, rice and sugar, a testament to the fair's appeal.

"We come here every year. We buy the basic goods, the house needs and Ramadan-related products like juice and seasonal items," he said, satisfied with the savings.

The initiative has extended far beyond Cairo. With affiliated outlets in every governorate, the Egyptian government is weaving a safety net across the nation. Inaugurated by Egyptian Minister of Supply and Internal Trade Sherif Farouk and Cairo Governor Ibrahim Saber Khalil, such fairs symbolize a commitment to ensuring that no table lacks for essentials as the moon sighting for Ramadan approaches.

"There is no shortage of any item. There is no maximum purchase limit," the Cairo governor affirmed during the opening of the fair in Nasr City, emphasizing that the expansion of such fairs is a direct response to easing living burdens.

As faithful Egyptians prepare for a month of dawn-to-dusk fasting, these markets are offering a different kind of sustenance: the comfort of a stable price and the dignity of a well-provisioned home.■