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FINANCIAL NEWS
Food commodities price in Egypt hikes
17 Jan 2017
(MENAFN) The food commodities price hikes due to the rising cost of production, which drove the basic annual inflation rate up to over 25 percent at the end of Dec 2016.
Furthermore, the consumer price index showed an increase of 3.13 percent in the cited period, compared to 4.85 percent in Nov 2016.
Additionally, the monthly increase was driven by high prices of core food items due to cost push effects, in addition to continued supply shocks related to rice and sugar.
Accordingly the core CPI computed by the CBE itself increased by 4.35 percent in Dec 2016 compared to 5.33 percent in Nov 2016.
M
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