Egypt’s annual inflation rate hits 15.3% in May

Egyptian annual inflation rate of commodity prices reached 15.3 percent last May, compared to 4.9 percent in May 2021, marking an increase of 10.4 percent, the Central Agency for Public Mobilization and Statistic (CAPMAS) revealed in its statement on Thursday.

CAPMAS explained that the cost of food and beverages rose by 27.9 percent, while transportation and communications hiked by 6.3 percent during May on an annual basis. The agency added that the education inched up by 13.9 percent, stable since October 2021. Meanwhile, the healthcare edged up by 5.1 percent, while restaurants and hotels by 17.2 percent.

The agency pointed out that the cost of alcoholic beverages and tobacco rose on an annual basis during the past month by 5.2 percent. It added that the notable increase of the culture and entertainment by 30.3 percent, besides household equipment and maintenance by 9.6 percent.

According to the statement, the cost of housing, water, electricity, gas and fuel enlarged by 8.5 percent on an annual basis during last May, while miscellaneous goods and services rose by 7.1 percent. Also, clothes and shoes grew by 8.3 percent, and telecommunications by 0.7 percent.

Last April, the annual inflation rate rose by 10.5 percent to reach 14.9 percent, in March by 7.3 percent to 12.1 percent, and in February by 5.1 percent to 10 percent, compared to 4.9 percent in February 2021, mentioned in the statement. While it was 8 percent during January and 6.5 percent during December 2021.

Nevertheless, the inflation of 2021 was 6.2 percent during November, and 7.3 percent during October, while it recorded 8 percent in September.

The annual inflation rate recorded about 6.4 percent during August, 6.1 percent during July. As it marked 5.3 percent during June, 4.9 percent in May, and 4.4 percent by April.

In March, it indicated 4.8 percent during March, and 4.9 percent by February 2021, as it recorded 4.8 percent in January.