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FINANCIAL NEWS
Inflation in Egypt hits 11.5% in March
11 Apr 2011
(MENAFN) The central bank in Egypt reported that inflation hiked in the country to 11.5 percent in March, due to rocketing food prices, reported the National.
The bank added that inflation went up in March by 0.8 percent, month on month, thus registering the 18th month in a row that annual consumer prices increase in the country.
As for food prices, the main reason behind hiking inflation, data from the central bank shows that they went up by 21.5 percent annually.
It is worth noting that the cost of a single meal in Egypt went up not only due to higher food prices, but also because cooking gas containers are being sold in the streets at around seven times their original price.
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