Inflation in Egypt creeping up
Inflation in Egypt is creeping up as the pound weakens
Egypt’s consumer price index (CPI) rose by 6.6 per cent in January, year-on-year. A hike in the cost of cigarettes, electricity and vegetables drove the increase, the state-run statistics body CAPMAS reveals on Sunday.
According to CAPMAS, the country’s inflation accelerated from last month, up 1.8 per cent compared to December.
Inflation was recorded at 4.3 per cent in November, however, its lowest since March 2006.
Both urban and rural inflation increased by 2 per cent month-on-month in January, recording 128 and 131 points, respectively.
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