Soaring US dollar spreads pain worldwide, cost of living increases ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 21
The cost of living in Cairo has soared so much that security guard Mustafa Gamal had to send his wife and year-old daughter to live with his parents in a village 70 miles south of the Egyptian capital to save money. Gamal, 28, stayed behind, working two jobs, sharing an apartment with other young people and eliminating meat from his diet. The prices of everything have been doubled," he said. "There was no alternative.'' Around the world, people are sharing Gamal's pain and frustration. An auto parts dealer in Nairobi, a seller of baby clothes in Istanbul and a wine importer in Manchester, England have the same complaint: A surging US dollar makes their local currencies weaker, contributing t

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