Egypt's annual urban inflation dips to 6.3% during October

CAIRO – 10 November 2021: Egypt's annual urban consumer price inflation fell to 6.3 percent in October, down from 6.6 percent in September, the country's statistics agency CAPMAS said on Wednesday. 

The Central Agency for Public Mobilization and Statistics (CAPMAS) said that Egypt’s annual consumer price inflation recorded 7.3 percent in October 2021, compared to 4.6 percent in October 2020.

 In September, Egypt’s annual consumer price inflation recorded 8 percent.

On a monthly basis, inflation recorded 118 points in October 2021, marking an increase of 1.7 percent compared to September 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 meat and pourtly group by 6.6 percent, the dairy, cheese and eggs group by 3.3 percent, the fish and seafood group by 1.9 percent, the cereal and bread group by 1.4 percent, the calculated rent group for housing by 0.4 percent. 

It also referred to the increase in the group of expenses on private transportation by 1.8 percent, the group of newspapers, books and stationery by 13.1 percent, the group of pre-primary and basic education by 19.5 percent, the group of higher education by 16.7 percent, the education group General and technical secondary school by 5.3 percent, and ready meals group by 0.6 percent

The statement indicated that this despite the decrease in the prices of the fruit group by 6.4 percent and the vegetables group by 4.8 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.