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· Egypt’s annual consumer price inflation declined to 4.9 percent in May 2021, as against 5 percent in May 2020.
· Inflation recorded 112.9 points in May 2021, marking an increase of 0.6 percent compared to April 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
Egypt’s annual consumer price inflation declined to 4.9 percent in May 2021, as against 5 percent in May 2020.
Inflation recorded 112.9 points in May 2021, marking an increase of 0.6 percent compared to April 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) said. The rise in inflation was attributed to the increase in prices of some commodities during the month, as food and drink prices rose by 1.3 percent as a result fruit prices were up by 9.0 percent, vegetables by 5.3 percent, and the group of fish and seafood by 0.8 percent.
The expenses on private transportation has increased by 1.9 percent, ready-made clothes by 1.2 percent and rent for housing by 0.4 percent, despite the decrease in meat and poultry prices by 0.3 percent. Inflation remains within the Central Bank of Egypt’s (CBE) target range of 9 percent, plus or minus 3 percentage points, despite the precautionary measures taken aiming to curb the spread of coronavirus that are expected to raise the rate of inflation.
