Cairo – Egypt’s annual inflation climbed month on month in September, rising for the fifth month running. The rate rose to 8% from 6.4% in August, data from the country’s statistics agency CAPMAS showed.
Despite the increase, the inflation remains well within the target range of between 5% and 9% set by the central bank. The monthly inflation rate also increased in September by 1.6% from a 0.1% deflation in August. Urban consumer price inflation climbed to 6.6% year on year from 5.7% in August.
CAPMAS attributed the high inflation rate to the rise in prices of vegetables (23.5%), meats (3.2%), fruits (1.7%), and dairy, cheeses and eggs (0.8%). The oils group posted a 0.3% jump, while outpatient services saw a 0.7% increase. The inflation also hit hospital services, medical appliances and equipment, modes of transportation, as well as prepared meals.
Translated by Guilherme Miranda
