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FINANCIAL NEWS
Egypt’s Sep core inflation up to 7.95%
12 Oct 2011
(MENAFN) Egypt’s central bank said that in the year’s first nine months, the country’s core annual inflation grew to 7.95 percent from August’s 6.98 percent, reported Arab News.
The bank added that in the twelve months to September, urban consumer price inflation went down to 8.2 percent from 8.5 percent in the previous month and 10.4 percent in July.
It also said that also in September, Egypt’s annual food price inflation declined to 9.1 percent from 18 percent in June due to the economic turmoil which followed the country’s political uprising.
It is worth noting that last month; Egypt’s net foreign reserves fell to USD24.01 billion from USD25.01 billion at the end of August, and USD35 billion in 2010.
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