Egypt's annual inflation records 8% during September, hikes 1.6% monthly

CAIRO – 10 October 2021: Egypt’s annual consumer price inflation recorded 8 percent in September 2021, compared to 3.3 percent in September 2020, state-statistics body said Sunday.

On a monthly basis, inflation recorded 116.1 points in September 2021, marking an increase of 1.6 percent compared to August 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.

CAPMAS attributed the hike in inflation to the increase in the prices of the vegetables group by 23.5 percent, the meat and pourtly group by 3.2 percent, the fruits group by 1.7 percent, and the dairy, cheese and milk group by 0.8 percent, and the oils and fats group by 0.3 percent.

It also referred to the increase in the group of outpatient services by 0.7 percent, the group of hospital services by 0.7 percent, the group of medical products, devices and equipment by 0.4 percent, the group of expenditures on private transportation by 0.9 percent, and the transportation services group by   0.2 percent, and the ready meals group by 0.6 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.