Egypt's annual core inflation records 4.8% in May: CBE

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Thu, 10 Jun 2021 - 04:56 GMT

FILE - CBE

FILE - CBE

CAIRO – 10 June 2021: The annual core inflation rate recorded 4.8 percent in May 2021, compared to 4.1 percent in April 2021, the Central Bank of Egypt (CBE) said in a statement Thursday.

 

The Consumer Price Index in Egypt has recorded a monthly rate of 0.3 percent in May, compared to 0.3 percent for the same month last year, and to 0.7 percent in April 2021, the statement added.

 

Core inflation discounts or strips out certain categories that are considered more volatile.

 

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.

 

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