Egypt's annual core inflation records 4.6% in July: CBE



Tue, 10 Aug 2021 - 02:43 GMT


Tue, 10 Aug 2021 - 02:43 GMT



CAIRO – 10 August 2021: The annual core inflation rate recorded 4.6 percent in July 2021, compared to 3.8 percent in June 2021, the Central Bank of Egypt (CBE) said in a statement Tuesday.


The Consumer Price Index in Egypt has recorded a monthly rate of 0.6 percent in July, compared to -0.1 percent for the same month last year, and to 0.1 percent in June 2021, the statement added.


Core inflation discounts or strips out certain categories that are considered more volatile.


The Central Agency for Public Mobilization and Statistics (CAPMAS) said earlier Tuesday that Egypt’s annual consumer price inflation recorded 6.1 percent in July 2021, compared to 4.6 percent in July 2020 and 5.3 percent in June 2021.




On a monthly basis, inflation recorded 114.4 points in July 2021, marking an increase of 1 percent compared to July 2021, it added.


CAPMAS attributed the rise in inflation to the increase in the prices of the group of the dairy, cheese and eggs group by 2.2 percent, the meat and pourtly group by 1.2 percent, the vegetables group by 1.1 percent, the smoke group by 1.7 percent.


It also referred to the increase in the group of electricity, gas and other fuel materials by 8.9 percent, organized tourism trips by 6.9 percent, and personal care group by 1.2 percent.


The agency indicated that this rise despite the decrease in the prices of fruits group by 3.4 percent.


لإhe Central Bank of Egypt aims to achieve an inflation rate of 7% (±2 percentage points) on average during the fourth quarter of 2022.



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