Egypt Independent

CAPMAS: Meat, vegetable prices push inflation up by 0.7%



Egypt's monthly inflation rate climbed by 0.7 percent in August compared to the previous month, according to the Central Agency For Public Mobilisation and Statistics (CAPMAS).

The annual inflation rate also increased to 10.9 percent compared to August 2012.

CAPMAS attributed the rise in inflationto an increase in prices of vegetables, which rose by 5.2 percent, seafood and fish, which increased by 2.4 percent, as well as a 1.3-percent rise in fruit prices.

Meat and poultry prices also increased by around 0.5 percent, while the prices of clothes and shoes decreased by 3.4 percent due to the sale season.

CAPMAS added in its statement that the prices of food and beverages increased by 1.5 percent compared to July and by 14 percent compared to the same month last year.

The rate of inflation for the period from January 2013 to August 2013 rose by 9.4 percent compared to the same period last year.

The rate of inflation in urban areas increased by 0.7 in August compared to July, and increased to 9.7 percent compared to August 2012.

In rural areas, the rate of inflation rose by 0.7 in August compared to the month before and the annual inflation rate rose to 12.3 percent compared to August 2012.

Edited translation from MENA