(MENAFN) Data showed that Egypt's annual urban consumer inflation and core inflation both increased, driven in large part by rising food prices, Gulf Daily News reported.
Urban consumer inflation rose to 13.1 percent in May from 11 percent in April, the official statistics agency CAPMAS said.
Core annual inflation, which excludes volatile items like fruit and vegetables, rose to 8.14 percent in May from 7.19 percent the previous month, the central bank said.
Inflation accelerated in Egypt after the government slashed subsidies in July last year, pushing up fuel prices as much as 78 percent. Price pressures eased at the end of the year but have since picked back up.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.