Last Update 14:54
Wednesday, 16 October 2019

Egypt's annual headline inflation drops in September to 14.6

Egypt's annual headline inflation dropped in September to register 14.6 percent, down from the 16.4 percent registered in August

Ahram Online , Monday 10 Oct 2016
fruits
Egyptian market (Reuters)
Share/Bookmark
Views: 2492
Share/Bookmark
Views: 2492

Egypt's annual headline inflation dropped in September to register 14.6 percent, down from the 16.4 percent registered in August and up from a one-digit inflation rate of 9.4 percent in the same month last year, the state statistics body CAPMAS said in an emailed Monday statement.

The monthly Consumer Price Index (CPI) registered 1.3 percent, a slight decrease from the 2 percent registered in August.

Egypt, which relies heavily on imports to support its population of over 91 million, has been suffering from an acute shortage of the US currency in the wake of the 2011 uprising which was followed by political and security unrest that has turned away tourists and foreign investors, two major sources of hard currency.

CAPMAS attributed the year-on-year hike in inflation rate to the increase in grains and bread by 23.4 percent in September 2016 compared to the same month last year.

Vegetable prices increased by 18 percent and food and beverages process rose by 15.3 percent year-on-year.

Last week, a media campaign was launched calling for hypermarkets to decrease the process of basic consumer goods to lower inflation rates and help the average and low-income citizens.

The majority of hypermarket chains joined the initiative, decreasing prices up to 30 percent, and announcing that the discounts would last from one to three months.

 

 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.