Egypt Inflation Rate Up to 10.4% in October

In October of 2013, Egyptian annual inflation rate accelerated to 10.44 percent, from 10.15 percent in September, mainly due to higher food prices. Core inflation rate remained steady.

While food prices accelerated to 15.34 percent, from 12.98 percent in the previous month, cost of restaurants and hotels recorded the highest annual increase (22.6 percent). 

In contrast, housing prices eased again in October to an annual 1.89 percent, from 3.45 percent in September. Cost of medical care slowed to 9.74 percent from 10.57 percent and transport prices rose 7.45 percent (mostly unchanged form 7.52 percent in September).

From September to October, prices decelerated to 1.06 percent, after rising 1.57 percent in the previous period. Upward pressures came from food items, mainly red meat, poultry, together with the inch up in prices of some regulated items, primarily butane cylinders and public schools tuitions.

Core CPI which excludes subsidized goods and volatile items such as food and vegetables increased to 1.17 in October, from 1.7 percent in the previous month. The annual rate remained steady at 11.15 percent.

Egypt Inflation Rate Up to 10.4% in October

Central Bank of Egypt | Joana Taborda |
11/12/2013 11:30:55 AM