Egypt’s annual inflation hits its peak to 39.7% in August: CAPMAS

Egypt’s annual inflation rate reached its highest record in August, as consumer prices increased by 39.7 percent over the past 12 months, according to  data released by the Central Agency for Mobilisation and Statistics (CAPMAS).

Comparing to July last year consumer prices rose by 24.4 percent, recording 39.7 percent from 15.3 percent, data shows.

Average food and beverage prices, the main drivers of inflation, increased by 71.9 percent, public transportation hiked by 15.2 percent, education edged up by 7.7 percent, while healthcare raised by 22.8 percent.