Egypt’s annual inflation rises to 14.1%

Egypt on map
Egypt on map

Egypt’s annual urban consumer price inflation increased to 14.1 per cent in May from 13 per cent in April, official statistics agency CAPMAS said on Monday.

CAPMAS attributed the hike in inflation on a monthly basis to the increase of food and drinks commodities’ prices.

Egypt is approaching the end of an IMF-backed economic reform programme that saw inflation rise to a high of 33 per cent in 2017.

(Reuters/NAN)

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