Cairo – Mubasher: Egypt’s inflation rate surged to 26.7% year-on-year in November 2017, compared to 20.2% in the same period a year earlier, the Central Agency for Public Mobilization and Statistics (CAPMAS) said on Sunday.
CAPMAS ascribed inflation rise to the price increases of several brands of cigarettes, garment and shoes by 11.4%, 12.9% and 13.8%, respectively.
Egypt's core inflation rose to 31.8% year-on-year in October 2017.
Egypt’s inflation has been on the rise since the currency float in November 2016, as well as cuts of fuel prices.
Egypt’s annual urban consumer price inflation rose 1% y-o-y in November 2017, up from 0.9% in the previous month.
