Egypt's annual inflation records 6.4% during August, declines 0.1% monthly

CAIRO – 9 September 2021: Egypt’s annual consumer price inflation recorded 6.4 percent in August 2021, compared to 3.6 percent in August 2020, state-statistics body said Thursday.

On a monthly basis, inflation recorded 114.3 points in August 2021, marking a decrease of 0.1 percent compared to July 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.

CAPMAS attributed the decrease in inflation to the decline in the prices of the meat and pourtly group by 4.3 percent, the fish and seafood group by 0.8 percent, and the ready-made clothing group by 0.2 percent.

It also referred to the increase in the group of the vegetables group by 4.7 percent, the fruit group by 1.3 percent, dairy, cheese and eggs group by 0.3), the group of purchasing vehicles by 1.9 percent, the group of spending on private transportation by 1.8 percent, the group of hospital services by 0.5 percent.

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