Egypt's annual inflation records 6.2% during November, urban inflation dips to 5.6%

CAIRO – 9 December 2021: Egypt’s annual consumer price inflation recorded 6.2 percent in November 2021, compared to 6.3 percent in November 2020, state-statistics body said Thursday.

In October, Egypt’s annual consumer price inflation recorded 7.3 percent.

On a monthly basis, inflation recorded 118 points in November 2021, maintaining the same levels of prices in October 2021, it added.

CAPMAS attributed the stability in inflation to the increase in the prices of the prices of the oils and fats group increased by 13.7 percent, the group of cereals and bread by 3.2 percent, the group of dairy, cheese and eggs by 1.0 percent, the group of ready-made clothes by 2.7 percent, the group of hospital services by 1.5 percent, and the group of hospital services by 1.5 percent.

Moreover, the Outpatient services group hiked by 0.8 percent, medical products, devices and equipment group by 0.4 percent, and ready meals group by 0.8 percent.

The statement indicated that this despite the decrease in the prices of the vegetables group by 11 percent, the fruits group by 5.1 percent, and the meat and pourtly group by 3.4 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.