(MENAFN) Egypt's urban consumer inflation jumped in June to reach 14.0 percent, as consumer demand spiked during Ramadan.
Moreover, core inflation, which excludes items like fruit and vegetables as their prices vary widely, also increased to 12.37 percent in June.
Meanwhile, Egypt has been under pressure since a 2011 uprising drove away tourists and foreign investors, damaging its foreign reserves to USD17.5bn.
On the other hand, the central bank aims to raise reserves to reach USD25bn by the end of this year.
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