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FINANCIAL NEWS
Urban inflation up 10.4 percent in Egypt
12 Nov 2013
(MENAFN) The Egyptian CAPMAS statistics agency said that urban consumer inflation increased last month in the country, The Peninsula reported.
The agency said that the rise in inflation was due to higher consumer spending on food and transport in addition to a weaker Egyptian pound.
CAPMAS figures show that inflation increased 10.4 percent last month from 10.1 percent in the month before it.
CAPMAS head said: “This is a big rise for inflation within one month,” adding that an obvious increase in prices of meat and other food products as well as transport has been observed.
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