Cairo – Mubasher: Egypt's core price index (CPI) annually bounced to 12.23% during May 2016, compared with 9.51% a month earlier, said the Central Bank of Egypt in a press release.
On a monthly basis, core inflation rose by 3.15% in May 2016, versus 1.24% by the end of April.
Earlier, the Central Agency for Public Mobilization and Statistics (CAPMAS) said Egypt’s CPI, which covers urban consumption only, rose to 12.9% year-on-year during May 2016.
On a monthly basis, the index rose by 3.2% to 188.4 points from 182.6 points registered in April, the state agency added, attributing the rise in inflation rate to increasing prices of grains, poultry and meat products, medicines, health care, fast foods, as well as vegetables.
Inflation rates are forecast to reach 10-11% during the current fiscal year and to ease down to 7-8% by 2018/19, official data indicated.
