Egypt’s inflation rate increases by 1.6 percent in September – CAPMAS

Egypt’s general consumer price inflation (CPI) has reached 133.8 points in September to record an increase of 1.6 percent over the previous month, according to data from the country’s statistics agency CAPMAS showed on Sunday.

This is the highest rate in 20 months to rise to 6.6 percent year on year from 5.7 percent in August.

The rate still within the target range between 5 percent and 9 percent set by the central bank, which scheduled to meet on Oct. 28 to decide interest rates.

The reason behind this increase is according meat prices that hiked by 1.8 percent while the vegetables prices rose by 6.2 percent.