URGENT: Egypt’s inflation rises 2.7% in Feb, annual inflation down to 11.5% – CAPMAS

Egypt’s monthly inflation rate reached 2.7 per cent in February, with the general Consumer Price Index (CPI) for the entire Republic hitting 275.2 points. The annual inflation rate fell slightly to 11.5 per cent compared with 12.5 per cent in the same month last year, according to a report released on Tuesday by the Central Agency for Public Mobilisation and Statistics (CAPMAS).

The monthly increase was driven by higher prices for meat and poultry, which surged by 9 per cent, fish and seafood by 0.4 per cent, dairy, cheese, and eggs climbed by 0.5 per cent, oils and fats increased by 0.5 per cent, and vegetables rose by 3.8 per cent.

Actual housing rent prices also advanced by 2.8 per cent, electricity, gas, and other fuels went up by 0.2 per cent, household furnishings grew by 0.1 per cent, and household appliances rose by 0.6 per cent.

Education also contributed significantly, with pre-primary and basic education increasing by 22 per cent, general and technical secondary education by 15.3 per cent, post-secondary and technical education by 364.5 per cent, and higher education by 17 per cent.

These gains occurred despite price drops in cereals and bread prices by 1.3 per cent, fruit by 3.0 per cent, sugar and sugary foods prices dropped by 0.1 per cent, other food products by 0.4 per cent, and coffee, tea, and cocoa prices fell by 0.2 per cent.

On an annual basis, food and beverages rose by 3.9 per cent, housing, utilities, and fuels climbed by 24.5 per cent, furniture and household equipment increased by 9 per cent, healthcare rose by 18.8 per cent, transport advanced by 20.3 per cent, wired and wireless communications grew by 0.5 per cent, and education rose by 20 per cent.

Attribution: Amwal Al Ghad English