Tue, 10 Nov 2020 - 08:43 GMT
FILE – Students eating school meals
CAIRO – 10 November 2020: Egypt’s annual consumer price inflation recorded 4.6 percent in October 2020, compared to 2.4 percent in October 2019, state-statistics body said Tuesday.
On a monthly basis, inflation recorded 109.9 points in October 2020, marking an increase of 2.3 percent compared to September 2020, 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 the general and technical secondary education group by 56.6 percent, the pre-primary and basic education group by 20.1 percent, the higher education group by 13.2 percent, and the general and technical post-secondary education group by 12.3 percent.
Moreover, the vegetable group increased by 7 percent, meat and pourtly by 1.2 percent, ready-made clothes by 0.2 percent, rent calculated for the dwelling by 0.4 percent, goods and services used in home maintenance by 0.7 percent, patient services and outpatient clinics by 0.6 percent, newspapers, books and writing instruments by 4.2 percent, hotel services by 13.5 percent, and personal care by 0.6 percent.
It also referred to the decrease in the prices of fruits by 7.9 percent, cereals and bread by 0.4 percent, and fish and seafood by 0.4 percent.
At the urban level, the annual inflation rate for October 2020 hiked to 4.5 percent, up from 3.7 percent in September.
The sustainable development plan for 2020/2021 expected the inflation rate to increase to 9.8 percent if coronavirus 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.