The Central Agency for Public Mobilization and Statistics announced Tuesday that the monthly inflation rate fell by 0.9 percent compared to April 2014 to score 147 points against 148.3 points April.
The agency added in a statement that the rate of change in annual inflation over the last month stood at 8.3 percent compared to May 2013, which remains to be the lowest rate recorded since last November, which reached 14.2 percent.
The agency attributed decline in the rate of inflation to lowering the prices of food and drink by 2 percent compared to last April, noting that the rate of inflation declines during the month of May every year due to a decline in the prices of vegetables markets, which increases its supply at this time of the year.
The inflation rate in the period from January to May 2014 was 10 percent compared to the same period last year. Prices of food and drink during the mentioned period increased by about 15.2 percent compared to the period from January to May of the past year.
Edited translation from Al-Masry Al-Youm
