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FINANCIAL NEWS
Egypt’s urban inflation grows marginally to 6.5%
11 Sep 2012
(MENAFN) Official data showed that Egypt’s urban consumer prices stood at 6.5 percent in the 12 months to August, up from 6.4 percent in July, Reuters reported.
According to the state statistics agency Capmas, the urban inflation index grew to 124.7 last month from 117.2 a year earlier.
Egypt’s economy is struggling to recover from more than 1-1/2 years of political turmoil since the overthrow of President Hosni Mubarak.
July’s inflation was the lowest in six years due to a smaller increase in food prices, Capmas said.
Egypt’s core annual inflation, which excludes subsidised goods and volatile items including fruit and vegetables, eased to 5.34 percent in the year to August from 6.34 percent in July, according to the central bank.
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