Egypt’s annual headline inflation surges to 4.6% in July: CBE

Doaa A.Moneim , Tuesday 10 Aug 2021

Egypt’s annual inflation rate surged to 6.1 percent in July, up from the 4.6 percent recorded in the same month of 2020 and the 4.9 percent recorded in June 2021

cbe

Egypt’s annual headline inflation rate increased to 4.6 percent in July, up from 3.8 percent recorded in June, the Central Bank of Egypt (CBE) announced on Tuesday.

Egypt’s monthly core CPI inflation also jumped to 0.6 percent in July, up from -0.1 percent in the same month of 2020 and to 0.1 percent in June 2021, according to the CBE.

The CBE calculations are based on the inflation readings announced on Tuesday by the Central Agency of Public Mobilisation and Statistics (CAPMAS).

According to these readings, Egypt’s annual inflation rate surged to 6.1 percent in July, up from the 4.6 percent recorded in the same month of 2020 and the 4.9 percent recorded in June 2021.

The monthly inflation rate also went up by 1 percent in July to record 5.9 percent.

CAPMAS attributed this hike mainly to the increase in the prices of electricity, fuel, natural gas, and other fuel sources by 8.9 percent, in addition to the rise in touristic tours by 6.9 percent.

The prices of cheese, dairy products, and eggs also went up by 2.2 percent in July, while the prices of meat and poultry rose by 1.2 percent, according to CAPMAS.

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