The statement added that food prices have increased by 61.5% since the same time last year.

Egyptians, nearly a third of whom live in poverty according to official figures, have been trying to keep up with rising prices since last year, after the Russian invasion of Ukraine sparked global inflation. The country is the world’s largest wheat importer and most imports traditionally come from Eastern Europe.

The war in Ukraine came after years of government austerity in Egypt, the coronavirus pandemic and more than a decade of disruptions to the Middle East economy. In 2016, the government of Egyptian President Abdel Fattah el-Sissi launched a reform program to reverse long-standing disruptions in the economy in exchange for loans from the International Monetary Fund.

To try to curb the economic turmoil, Egypt secured its latest financial aid last December, a $3 billion bailout loan from the IMF. In return, el-Sissi’s government promised several IMF-led economic reforms, including a free-floating exchange rate for the Egyptian pound and a reduction in fuel subsidies.

The country’s currency is now trading at more than 30 Egyptian pounds against the dollar, a loss of more than 50% since this time last year.

Earlier this month, the government raised the price of some types of gasoline in a move that is likely to further push up the prices of other goods and services.

To try to ease the burden on normal Egyptians, the government has set up markets where basic goods are sold at lower prices and the wages of civil servants have been increased. On March 3, el-Sissi announced that government employees would receive pay increases of 1,000 Egyptian pounds (about $32) a month.