Egyptian inflation rises to 23 per cent

11 August 2008
Year-on-year inflation rose to a record 23.1 per cent in July in Egypt, on the back of a 32.5 per cent increase in food prices.

The latest inflation figures were released by the Central Agency for Public Mobilisation & Statistics on 10 August.

The urban consumer price index was up 22 per cent compared to July 2007. The figure is a rise from 20.2 per cent a month ago (MEED 10:07:08).

Rural prices were 24.3 per cent higher over the year.

Monthly inflation reached 2.2 per cent in urban areas between June and July, with food prices growing at 3.1 per cent.

Overall prices in rural areas were 2.8 per cent higher than in May, while food price inflation alone was 4.3 per cent over the same period.

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