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Egypt urban inflation falls to 6.4 pct in July, lowest level since uprising

Slowing growth in food prices helped slash the country's annual inflation rate, new data shows

Ahram Online, Thursday 9 Aug 2012
Views: 1151
Views: 1151

Egypt’s annual urban inflation hit 6.4 per cent in the twelve months to July 2012, according to figures from the Central Agency for Statistics and Mobilisation (CAPMAS). 

This is the lowest level for the indicator since a popular uprising unseated Hosni Mubarak in February 2011.
The inflation figure is down from 7.3 per cent in the year to June, and 8.3 per cent to May.
Slowing growth in food prices caused the dwindling rate of inflation. Food items carry the heaviest weight in the inflation index.
Food inflation fell from 8.1 per cent in the twelve months to July 2012, down from 9.2 per cent in June and 10.8 per cent in May.
Tobacco and alcoholic beverages saw a significant drop in growth, from an annual 19 per cent in June 2012 to just 8.8 per cent in July.
On a monthly basis, July prices were up an average of 0.4 per cent on June. Food prices increased by 0.7 per cent while rent, water and electricity dropped 0.4 per cent.

Further details will follow shortly


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