Cairo – Mubasher: Egypt’s consumer price index (CPI), which covers urban consumer only, annually increased to 16.4% in August from 14.4% a month earlier, said the Central Agency for Public Mobilization and Statistics (CAPMAS) on Thursday.
The state agency attributed this increase to higher prices of vegetables, frozen and fresh red meats, sugar, oils, electricity, gas, other sources of energy, as well as transportation services’ tariff
The country’s budget deficit is likely to reach 8-8.5% by 2019/20, while the inflation rate is expected to decline 7-8% by 2018/19.
