Annual urban consumer inflation reached 10.4 per cent in the 12 months to July 2011, a significant drop from June's figure of 11.8 per cent, according to a release by Egypt's official statistics body on Wednesday.
The slowing rise was driven by a fall in almost all components of the Consumer Price Index (CPI), but was led by an annual drop in food price inflation.
On a monthly basis, however, urban inflation increased 1.2 per cent from June 2011.
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