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Inflation climbs to 10.3 % in July - Daily News Egypt

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Inflation climbs to 10.3 % in July

Annual inflation increases to 10.28% in July compared to 9.75% in June


Annual inflation increases to 10.28% in July compared to 9.75% in June (AFP Photo)
Annual inflation increases to 10.28% in July compared to 9.75% in June (AFP Photo)

Inflation ascended to 10.28% in July compared to 9.75% in June, the Central Agency for Public Mobilisation and Statistics (CAPMAS) indicated in its latest report issued Wednesday.

July’s inflation index rose to 138.4, marking a year-on-year rise of 11.5%, according to CAPMAS.

Between January and July, inflation rate registered an 8.4% increase compared to the same time period in 2012.

The food and beverage sub-index soared 13.9% year-on-year and 1.7% month-on-month.

Interim prime minister Hazem El-Beblawi, had announced that several measures will be taken to reduce inflation.

Measures announced by the Prime Minister and his deputy, Ziad Bahaa El-Din, include the study of revitalisation and development of agricultural production by granting debt exemptions to small farmers.

On 4 August, a statement issued by the Ministry of Finance, stated that the government has allocated EGP 473.2m of its new budget in the fiscal year 2013-2014, to support farmers, compared to EGP 183.9m in the previous year.

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https://wwww.dailynewssegypt.com/2013/08/07/inflation-climbs-to-10-3-in-july/
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