Egypt Inflation Rate Slows in September
Egyptian annual inflation rate slowed for the first time in four months to 11.1 percent in September of 2014 from 11.5 percent in August, mainly due to base effects.
Year-on-year, prices of housing, water, electricity, gas and other fuels rose at a slower 6.53 percent in September from 6.69 in August. Transport cost decelerated as the rate of change decreased to 21.96 percent in September from 28.08 in August. In contrast, prices of food and beverages rose 11.8 percent, marginally up from 11.6 percent in the previous month.
Monthly inflation accelerated to 1.23 percent in September compared to 1.09 percent in August. Food prices (excluding fruits and vegetables) increased 1.58 percent (following a 0.42 percent decrease in August) and tobacco cost rose 5.75 percent.
Core inflation which strips out subsidized goods and volatile items such as fruit and vegetables increased to 0.84 percent in September compared to 0.60 percent in August. The annual rate declined to 10.07 percent.
10/14/2014 4:51:23 PM