Egypt’s annual inflation rate jumps to 15.3% in August

The annual inflation rate in Egypt jumped to 15.3 per cent last month, up from 14.6 per cent in July.

The Central Agency for Public Mobilisation and Statistics (CAMPAS) said in a statement that monthly inflation slowed in August to 0.5 per cent from 0.9 per cent in July.

The rise in annual inflation is driven by the rise in the prices of a number of food and beverage goods by 24.3 per cent, as the prices of cereals and bread increased 50.2 per cent, and oils and fats increased 32.1 per cent.

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Dairy, cheese and egg prices rose 26.9 per cent in August, while meat and poultry prices rose 23 per cent.

The prices of transportation and communications increased 16.5 per cent, amid increases in fuel prices, resulting from global oil price rises.

Egypt has suffered from a rise in the price of imported goods from abroad, which was reflected in the rise in the import bill by 90 per cent, which reached more than $9.5 billion per month from an average of $5 billion in the past.