Egypt's headline inflation inches up to 26.5% in October
By Reuters |
Food prices also rose by 1.1% compared with 2.6% in September. October food prices were 27.3% higher than they were a year earlier.
Egypt's annual urban consumer price inflation edged up to 26.5% in October from 26.4% in September, slightly below expected, data from the country's statistics agency CAPMAS showed on Sunday.
On a monthly basis, headline inflation rose by 1.1% in October, unchanged from September.
Keep reading
- Things are tough, lobby group says, dismisses Ruto's economic recovery claims
- The toll and toil it took to cleave the Suez Canal through the Egyptian desert
- Government increases registration fees for birth, death certificates by 300 per cent
- Thousands of refugee children in Egypt left out of school, HRW reports
The median forecast of 17 analysts was for annual inflation to increase to 27% last month. Still, annual inflation crept upwards for a third straight month.
Food prices also rose by 1.1% compared with 2.6% in September. October food prices were 27.3% higher than they were a year earlier.
Inflation has been fuelled largely by an expansion of the money supply. Egypt's M2 money supply grew by 29.59% year-on-year in September, central bank data showed.
Reader comments
Follow Us and Stay Connected!
We'd love for you to join our community and stay updated with our latest stories and updates. Follow us on our social media channels and be part of the conversation!
Let's stay connected and keep the dialogue going!
Latest News For You
