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Soaring inflation hits lantern market in Egypt

Soaring inflation hits lantern market in Egypt

March 26, 2023
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Home Egypt

Soaring inflation hits lantern market in Egypt

by Gazette Staff
March 26, 2023
in Egypt, Business
Soaring inflation hits lantern market in Egypt 10 - Egyptian Gazette
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Traditional colourful metal and glass lanterns in Egypt are always among the items in high demand ahead of and during the Muslim holy month of Ramadan. However, this year, the inflation-stricken lantern market remains bleak.

“We are not selling well this season … prices of raw materials have gone up which made lantern prices skyrocket,” Hossam Mohammed, a lantern vendor in Old Cairo’s al-Azhar district, said.

The soaring prices have dented the lantern sales, the middle-aged man added.

At the old market, sellers put lanterns, known as fanoos in Arabic, of all shapes on display, but few people came to buy them.

“The market is busy, but customers do not really buy,” Mohamed said, adding that the sales are less than half of the last season.

The fanoos originated in Egypt during the Fatimid caliphate hundreds of years ago when they served to light dark streets. They are now an indispensable element in the celebration of Ramadan.

 

Days ahead of the holy month, which started on Thursday, Egyptians decorated their homes and streets with colorful lanterns. During the month, Muslims abstain from eating, drinking, and smoking from sunrise to sunset.

For almost a year, galloping inflation in Egypt has strained the budgets of Egyptian families. The annual inflation nationwide reached 32.9 percent in February, according to the official Central Agency for Public Mobilization and Statistics.

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