Egypt's annual inflation rate accelerated to 10.3 percent in October compared to 9.2 percent in September, official statistics agency CAPMAS announced on Tuesday.

The monthly inflation rate hit 2.3 percent in October compared to September.

Urban annual inflation rate reached 9.7 percent while rural inflation rate hit 10.9 percent.

General prices soared in Egypt after the government raised fuel prices in July 2014 as part of its fiscal reform programme aimed at reducing the ballooning budget deficit.

Egypt, a net importer, has also seen its Pound value weakened to the dollar.

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