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Inflation rate increases by 1.8% in October: CAPMAS - Daily News Egypt

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Inflation rate increases by 1.8% in October: CAPMAS

The annual inflation rate reached 14% in October


The consumer price index (CPI) for October registered 200.9 points, increasing 1.8% compared to September, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported on Thursday.

The CPI measures changes in the purchasing power of currency and the rate of inflation.

The statement attributed the inflation rate increase to the rise in grain and bread prices by 7%; meat and poultry by 2.3%; oils and fats by 6.5%; sugar and sweet food by 8.1%; milk, cheese, and eggs by 1.5%; transportation by 1.5%; education by 12.9%; and diversified goods and services by 1.4%.

The annual inflation rate reached 14% in October.

Food and beverage prices went up by 1.9%, contributing to an inflation rate increase of 0.98% compared to last year.

Furniture and home supply products registered a price hike of 16%, which represent a 0.47% increase in the inflation rate compared to last year, due to the increase in home appliance prices by 18.4% and in glassware and cutlery prices by 38.6%.

“Healthcare products increased by 26.8%, which represents a 1.26% inflation rate increase compared to last year due to the price increase of pharmaceutical products by 32.4%,” according to CAPMAS.

The statement added that the prices of transportation and communication services increased by 8%, which represents a 0.3% increase compared to last year due to a hike of 34.1% in car prices.

Restaurant and hotel prices went up by 19.5%, registering a 0.9% increase compared to last year as the prices of take away meals went up by 19.7%.

The Central Bank of Egypt stated that basic inflation recorded a monthly rate of 2.81% by the end of October compared to 1.39% in September, while the annual inflation rate increased to 15.72% in October compared to 13.93% in September.

 

Topics: CAPMAS CBE inflation

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https://wwww.dailynewssegypt.com/2016/11/10/inflation-rate-increases-1-8-october-capmas/
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