Cairo – Mubasher: Egypt’s annual urban inflation tumbled to 13.8% in June, from 30.9% in the same month a year earlier, Central Agency for Public Mobilization and Statistics (CAPMAS) said on Tuesday.
While the Consumer Price Index (CPI) rose 2.9% month-on-month to 282.7 points in June, versus 274.7 points in May, according to the state-run statistics agency's data.
The Egyptian body attributed the CPI growth to a 27.8% jump in transport fares, an 8.1% increase in piped water, electricity, and household natural gas prices, in addition to a 4% hike in vegetable prices.
It is worth noting that the North African nation's annual inflation eased to 11.5% year-on-year in May 2018 from 30.9%.
The London-based economic research consultancy Capital Economics had previously forecast that Egypt’s inflation rate would slash to 8% in 2019.
