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Wednesday, 16 October 2019

Annual inflation rate in Egypt up 1% in May: CAPMAS

MENA , Monday 10 Jun 2019
Views: 6285
Views: 6285

The annual inflation rate in Egypt went up by 1 percent in May, according to the monthly statement issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Monday.

On a monthly basis, the rate surged 1 percent in May compared to April, hitting 311.1 points, according to the statement.

The annual inflation rate reached 13.2 percent in May, compared to 11.5 percent during the same month last year.

The report blamed the rising inflation rate on a continuing increase in consumer prices, saying that fruit prices spiked 18.1 percent, red meat and poultry prices were up 3.6 percent, cereals and bread 0.7 percent, fish and seafood 1.2 percent and ready-to-wear clothes 1.3 percent.

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