Cairo - Mubasher: MubasherTrade Research expects high inflation rates in Egypt to continue until the latter half of the year by around November 2017, according to a recent report.
A higher month-on-month figure in January raises questions about the possibility of achieving easier momentum of inflation in the short run, the report stated.
The consumer price index in Egypt grew 29.6% year-on-year in January and by 4.3% month-on-month, as shown by the data of the Central Agency for Public Mobilization and Statistics (CAPMAS).
A closer look at consumption items reveals that food and beverages recorded the highest year-on-year price increase at 38.6%, followed by medical care with 33.3%.
Also, miscellaneous goods and services, furnishing and maintenance as well as restaurants and hotels all exceeded the 30% year-on-year rise, indicated the report.
Meanwhile, urban inflation went up by 28.1% in January, driven mainly by food and beverages, which increased by 37.2%.
