Egypt Inflation Rate Slows to 9.74% in August

In August of 2013, Egyptian annual inflation rate eased for the first time in five months to 9.74 percent, from 10.28 percent recorded in July. The slowdown came on the back of lower food and clothing prices as a result of the end of the Ramadan.

On a year-on-year basis, food prices eased to 12.86 percent, from 13.86 percent in the previous month. Cost of clothing and footwear slowed to 1.83 percent, from 5.79 percent in July and prices of miscellaneous goods and services also eased to 0.3 percent. In contrast, cost of recreation and culture accelerated to 11.29 percent. 

On a month-over-month basis, prices went up by 0.68 percent in August compared to a 0.86 percent increase in July. The increase in prices of fresh vegetables, poultry, fish and seafood was partially offset by a drop in cost of clothing.

Core CPI which excludes subsidized goods and volatile items such as food and vegetables declined to 0.14 percent in July, from 1.04 percent in the previous month. The annual rate eased to 8.97 percent from 9.06 percent in July.

Egypt Inflation Rate Slows to 9.74% in August

Central Bank of Egypt | Joana Taborda |
9/12/2013 11:33:46 AM