A solution to Egypt's food crisis
Last week, the excellent economics blog Rebel Economy highlighted a recent report on food consumption in Egypt:
Egypt’s most vulnerable households don’t have enough money to buy food, clothes and shelter.
That’s the frightening conclusion of the Egyptian Food Observatory’s latest government survey.
Of the 1680 households surveyed (and 7532 household members) in September 2012, 86% said their income was insufficient for covering total monthly needs including for food, clothes and shelter, up from 74% in June 2012.
As food prices have steadily increased over the year, income levels have remained static as the country’s fragile economic climate impacts salaries.
The knock-on affect of this has left many families adopting increasingly extreme coping strategies, the report says, the most common of which has prompted families to consumer cheaper foods and borrow food or money.
Meanwhile, the government has acknowledged across-the-board food price inflation on a range of commodities in a new report — confirming what was obvious to all. In the report, the government also advises citizens not to over-eat. Really. Still wonder why Egyptians are protesting?