Egypt’s annual inflation rate rise by 16.7% in August: CBE

The annual inflation rate increased by 16.7 percent in August, compared to 15.6 percent in July, according to a statement of The Central Bank of Egypt (CBE) on Thursday.

In the meanwhile, the CBE stated that the monthly Consumer Price Index (CPI) recorded 0.6 percent in August 2022, against 0.3 percent in the same month of 2021, and 1.5 percent in July 2022.

The inflation rate registered 131.7 points in August, according to Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) on Thursday.

CAPMAS confirmed that food and beverage prices were flat, despite the increase of the prices of vegetables by 12.5 percent grains and bread by 3.3 percent edible oil by 0.6 percent and other products in comparison with the previous month.

In the meantime, the prices of some products diminished, including fruits by 8.3 percent and meat and poultry by 5.0 percent in comparison with the previous month, CAPMAS concluded in its monthly statement.