Egypt inflation accelerates to 5-month high in May

Author:
ARAB NEWS
article author:
Arab News
ID:
1623403050330352500
Fri, 2021-06-11 12:12

CAIRO: Egypt’s annual inflation rate rose 0.5 percentage point to 4.9 percent in May, the highest level since December 2020, according to the official statistics agency CAPMAS.

The increase was led by food, with fruit prices rising 9 percent year on year and vegetables by 5.3 percent. Transport prices rose by 1.9 percent.

The Central Bank of Egypt targets an inflation rate of 7 percent, plus or minus two percentage points, by the end of 2022.

Main category:
Business & Economy
Tags:
#egypt
#inflation
#food

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