Egypt Inflation Rate at 5-Month High in March

Consumer prices in Egypt increased 11.51 percent year-on-year in March of 2015, up from 10.56 percent in February as cost of food and housing, water, electricity, gas and other fuels rose the most.

Compared to March 2014, food and beverages prices increased 9.15 percent, the strongest growth in five months. Housing, water, electricity, gas and other fuels prices went up by 13.35 percent. Additional upward pressure came from: Medical care (2.00 percent); transportation (22.01 percent); clothing and footwear (7.55 percent); education (24.68 percent); and hotels, cafes and restaurants (16.20 percent).

In contrast, prices of communications fell 0.18 percent.

Annual core inflation edged up for the second consecutive time to 7.21 percent from 7.15 percent last month. 

On a monthly basis, consumer prices rose 1.55 percent. While the majority of prices remained unchanged, food and beverages cost went up by 2.42 percent; housing, water, electricity, gas and other fuels rose 2.81 percent; hotels, cafes and restaurants grew 0.49 percent.

The inflation has been on an upward trend since mid-2014 after the government cut subsidies. 

Central Bank of Egypt | Joana Ferreira |
4/15/2015 10:54:09 AM