Egypt's annual inflation rate up by 16.7% in August: CBE

MENA , Thursday 8 Sep 2022

The Central Bank of Egypt (CBE) announced that the annual inflation rate rose by 16.7 percent in August, compared to 15.6 percent in July.

File photo: Two Egyptian women shopping in a supermarket in Cairo, Egypt. REUTERS
File photo: Two Egyptian women shopping in a supermarket in Cairo, Egypt. REUTERS

In an online statement released on Thursday, the CBE said the monthly Consumer Price Index (CPI) registered 0.6 percent in August 2022, against 0.3 percent in the same month of 2021, and 1.5 percent in July 2022.

Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) also said on Thursday that the inflation rate recorded 131.7 points in August.

CAPMAS added that food and beverage prices were stable, despite the increase of the prices of vegetables by 12.5%, grains and bread by 3.3%, edible oil by 0.6% and other products in comparison with the previous month.

Meanwhile, the prices of some products decreased, including fruits by 8.3 %, and meat and poultry by 5.0%, in comparison with the previous month, CAPMAS said in its monthly statement. 

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