Daily News Egypt

YoY inflation registers 11.4% in August, highest since January: CAPMAS - Daily News Egypt

Advertising Area

Advertising Area

YoY inflation registers 11.4% in August, highest since January: CAPMAS

Prices of hospital services hike by 8.6%, according to the statistics agency

August witnessed the highest Year-on-Year (YoY) inflation since January, reaching 11.4%, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported Wednesday. The agency indicated that price increases varied between different products and services.

Vegetable prices surged by 6% while grains, bread and dairy products prices increased by 0.6%.  Hikes were also noted on the prices of hospital services, furniture and tourism flights, which jumped by 8.7%, 8.3% and 5.2%, respectively.

“Core Consumer Price Index (CPI) computed by the Central Bank of Egypt [CBE], increased by 0.60% month on month (m/m) in August compared to 1.79 percent m/m in July. The annual rate increased to 10.07% in August from 9.57 % in July,” the CBE said in an official statement.

On 1 September, the CBE amended the July inflation rate, reporting that Egypt’s annual urban consumer inflation registered 11.04%, compared to the previously announced 10.61%.

After the revision, the monthly CPI was said to register a monthly increase of 3.5%, instead of 3.11%. The figure brings the monthly core CPI calculated by the CBE to 1.79% instead of 1.59% and the annual rate to 9.57% instead of 9.35%.

Before taking office, President Abdel Fattah Al-Sisi promised to adopt certain mechanisms to control the rising prices of basic goods in the market. He stressed that the measures would not include imposing fixed prices.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter