CBE: Inflation Rates 0.55% Down On Vegetable & Fruits Prices

The Central Bank of Egypt (CBE) has attributed the fall in the monthly inflation rates which reached 0.55% in July, compared to 0.24% in May to the price reduction of vegetables and fruits.

In its latest report, CBE pointed out that the prices of vegetables and fruits dropped during June 9.28% and 0.64%, respectively. This fall was after the prices of vegetables and fruits had soared for 4 months. The CBE has mentioned that the decrease during June was due to the the prices of tomatoes and eggplants which fell by 22.46% and 46.99%, respectively. Accordingly, this price decrease has contributed to deduct the monthly inflation rate by 0.75%.

On the other hand, the diaries prices hiked by 7.52% in June, set for the highest price since June 2011, adding 0.18% to the monthly inflation rate.