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· The annual core inflation rate of Egypt reached 0.7 percent in July, down from 1 percent in June, according to the data released by the Central Bank of Egypt (CBE)
· The Consumer Price Index (CPI) has recorded a negative monthly rate of 0.1 percent in July, compared to negative 0.3 percent for the same month last year
The annual core inflation rate of Egypt reached 0.7 percent in July, down from 1 percent in June, according to the data released by the Central Bank of Egypt (CBE). The Consumer Price Index (CPI) has recorded a negative monthly rate of 0.1 percent in July, compared to negative 0.3 percent for the same month last year.
Egypt’s annual consumer price inflation recorded 4.6 percent in July 2020, compared to 7.8 percent during the same period in the previous year, an appreciable decline in the rate. Inflation recorded 107.8 points in July 2020, as against an increase of 0.2 percent compared to June 2020 on month –on-month basis, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
The rise in inflation is attributed to the increase in prices of some commodities during the month, as electricity. The increase in prices were mostly in gas and other fuel materials by 11.2 percent, hotel services by 2.7 percent, outpatient services by 1.5 percent, ready meals by 1.2 percent, personal care by 1.1 percent, and hospital service by 0.8 percent.
This was followed by decrease in the prices of fruits by 3.7 percent, fish and seafood by 2.3 percent, meat and poultry by 2.2 percent, vegetables by 1.8 percent, dairy, cheese and eggs group by 0.3percent, ready-made clothes by 1.2 percent, and actual rental group for houses by 0.6 percent. The annual inflation rate for the urban side for July 2020 dipped to 4.2 percent, down from 5.6 percent in June.
