Egypt urban annual consumer inflation drops to 12.8%

11 March 2010

Egypt's statistics agency CAPMAS has said that the country's urban annual consumer price inflation dropped below forecasts to 12.8% in the year to February, Reuters has reported. Prices of food and beverages, which account for more than 40% of the weighting of the basket Egypt uses to measure inflation, rose 22.6% from February 2009 but were lower month-on-month, the index showed. Annual inflation in January was 13.6%, the agency said.

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