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Prices do vary. Hurghada is more expensive than Luxor and Cairo. Probably because it has so many foreign residents and tourists. Sharm el Sheikh I think is the most expensive from buying property there to actual shopping costs.
It is all relative though, comparing prices to Europe they are very very cheap. Basics are unbelievably low but of course prices have risen here as well quite a lot in the past year.
Rents in Hurghada are ridiculous - a 2 bedroom apartment, not particularly well furnished can cost 2,500 - 3,000. Water - well it depends if there is a government line and then it depends if the landlord charges the government rate or his own rate. Electricity is very cheap, a month with air-con running all night approx. 65 LE. My phone bill, okay I mainly only use the phone for the internet is 116 LE every 3 months and that includes the line rental.
Hope the above helps but if there is anything else just let me know.
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