Egypt's annual inflation records 4.9% during May, rises 0.6% monthly

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Thu, 10 Jun 2021 - 10:57 GMT

The Central Agency for Public Mobilization and Statistics (CAPMAS) - CC

The Central Agency for Public Mobilization and Statistics (CAPMAS) - CC

CAIRO – 10 June 2021: Egypt’s annual consumer price inflation declined to 4.9 percent in May 2021, compared to 5 percent in May 2020, state-statistics body said Thursday.

 

On a monthly basis, inflation recorded 112.9 points in May 2021, marking an increase of 0.6 percent compared to April 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.

 

CAPMAS attributed the rise in inflation to the increase in prices of some commodities during the month, as food and drink prices by 1.3 percent as a result of fruit prices by 9.0 percent, vegetables by 5.3 percent, and the group of fish and seafood by 0.8 percent.

 

It also referred to the increase in the expenses on private transportation by 1.9 percent, ready-made clothes by 1.2 percent and rent for housing by 0.4 percent, despite the decrease in meat and pourtly prices by 0.3 percent.

 

The sustainable development plan for 2020/2021 expected the inflation rate to increase to 9.8 percent if the crisis continued until December 2020.

 

Inflation remains within the Central Bank of Egypt’s (CBE) target range of 9 percent, plus or minus 3 percentage points, despite the precautionary measures taken aiming to curb the spread of coronavirus that are expected to raise the rate of inflation.

 

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