Inflation in Egypt keeps on growing

Egypt's annual inflation in December accelerated to 4.7 per cent, a slight growth over the preceding months, data from the official statistics agency showed on Thursday.

Egypt's annual inflation in December [2] accelerated to 4.7 per cent, a slight growth over the preceding months, data from the official statistics agency showed on Thursday.

Inflation had recorded 4.3 per cent in November, [3] its lowest level since March 2006.

Prices of food and drink, which have the highest weight in the consumer price index, grew 6 per cent in comparison to December 2011 but dropped a 0.2 per cent below November 2012's figures.

The overall inflation rate grew a meager 0.2 per cent on a monthly basis [4].

Inflation in Egypt accelerated to 4.7 per cent, in more worrying news for the Central Bank.