Egypt- Annual inflation recorded at 11.5% in June

(MENAFN- Daily News Egypt) Annual inflation registered 11.5% in June 2015, the Central Agency for Public Mobilization and Statistics (CAPMAS) stated in its latest report. In April and May 2015, annual inflation recorded 11% and 13.5%, respectively.

CAPMAS also highlighted that the prices of some vegetables declined in June by 11.8%, whilst meat and poultry increased by 1.4%. Dairy products saw an increase of 0.9%, whilst fruit prices surged by 7.5%.

In May, vegetable prices increased by 7.7%, meat and poultry by 2.7%, fruits by 0.8%, seafood by 0.6%, whereas sugar increased by 1.1%.

In February, annual inflation stood at 10.7%, increasing to 11.8% in March.

The World Bank recently predicted that inflation would remain at around 10% through fiscal year (FY) 2016/2017. After the government cut energy subsidies in July 2014, inflation in Egypt took an upward trend.