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Egypt's urban inflation rises to 9.8% year-on-year in March

Rising food prices are contributing to inflation

Ahram Online, Thursday 10 Apr 2014
File Photo:Egyptians shop at a vegetable market in Cairo February, 2011 (Photo: Reuters)

Egypt’s annual urban inflation rose to 9.8 percent in the twelve months to March 2014 to reach 144.8 points, up from 7.6 percent in the same month last year, according to a statement by state statistics body CAPMAS on Thursday.

According to CAPMAS, the urban consumer price index (CPI) eased to 0.7 percent compared to February 2014.

The headline CPI has similarly swollen to 10.2 percent year-on-year at 147.4 points, compared to 7.5 percent in the year leading up to March 2013.

On a monthly basis, overall inflation dropped to 0.7 percent, from one percent the previous month.

CAPMAS attributed the inflation increase to the 1.8 percent price hike of vegetables and 2.1 percent hike in fruits cost.

Also (poultry, meat) and (eggs, dairies products) have witnessed price soar of 2.8 percent and 24.3 percent respectively.

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