Egypt Inflation Rate Edges Up to 12.97% in November

In November of 2013, Egypt inflation rate climbed to 12.97 percent, the highest rate in almost five years. On a monthly basis, prices slowed for the second straight month to 0.95 percent.

Year-on-year, food prices jumped 19.15 percent. Cost of hotels, cafes and restaurants climbed 22.6 percent and prices of recreation and culture rose 17.35 percent. In November, consumers paid more 13.18 percent for furnishings and household equipment and 9.74 percent more for medical care. Transport prices rose 7.45 percent and cost of housing, water, electricity and gas increased 6.09 percent. In contrast, communication prices dropped 0.12 percent. 

On a monthly basis, prices of regulated items increased 2.60 percent and explained around half of the monthly increase. The monthly increase is attributed to the continued increase in prices of Butane cylinders (up by 32.84 percent, due to supply bottlenecks in the distribution channels) and to price adjustments in water supply (up by 22.75 percent), the first adjustment since November of 2009. Poultry prices decreased for the first time since May of 2013 (-4.19 percent).

Core CPI rose 0.46 percent in November compared to 1.17 percent in October. The annual rate increased to 11.95 percent from 11.15 percent in October, due to unfavorable base effects. 

Egypt Inflation Rate Edges Up to 12.97% in November

Central Bank of Egypt | Joana Taborda |
12/11/2013 12:46:06 PM