Egypt Inflation Rate Up to 10.1% in December

Egypt annual inflation rate rose to 10.1 percent in December of 2014, from 9.1 percent recorded in November, due to higher food and transport prices.

Year-on-year, transport cost increased the most (+21.96) followed by hotels and restaurants (+15.2 percent) and medical care (+14.23 percent). Prices of food and non-alcoholic beverages rose 8.4 percent. Cost of fruits and vegetables increased 13.2 percent, more than doubling October's 6.01 percent rise. Additional upward pressures came from prices of housing, water, electricity and gas (up 4.61 percent) and clothing and footwear (up 2.53 percent).

Year-on-year, core inflation eased for the fourth straight month to 7.69 percent from 7.81 percent in the previous period.

On a monthly basis, the headline CPI decreased by 0.07 percent in December compared to a decrease of 1.53 percent in November. Prices of food and non-alcoholic beverages fell 0.33 percent mainly driven by a 2.96 percent drop in cost of fruits and vegetables. In contrast, cost of clothing and footwear increased 0.61 percent and hotels and restaurants went up 0.33 percent. Consumer prices were unchanged for medical care, housing, and transport. 

Egypt Inflation Rate Up to 10.1% in December

Carolina Cunha |
2/10/2015 11:12:18 AM