AA / Cairo
Annual consumer price inflation in Egypt slowed last June to 14.7% from 15.3% in May.
This is according to the monthly report of the Central Agency for Public Mobilization and Statistics on Thursday, which showed that food and energy prices are still controlling inflation in Egypt.
On a monthly basis, inflation in local markets contracted by 0.3% in June compared to the previous month.
On an annual basis, food price inflation slowed to 24.2% in June from 27.9% in May.
Grain prices increased by 44.8%, fish and seafood prices by 32.8%, oils and fats group prices by 30.3%. While meat and poultry prices increased by 25.3%.
Inflation in the housing, water, electricity, gas and fuel group increased by 8.7% year-on-year, and transport and communications increased by 8.2%.
The slight decline in global food prices and the rise in interest rates by the Central Bank of Egypt would have led to signs of market responsiveness and a slowdown in inflation growth.
*Translated from Arabic by Wejden Jlassi
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