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CAPMAS: annual inflation rate fells to 11.1 pct in December 2018

Thursday 10/January/2019 - 03:06 PM
Sada El Balad
Hassnein Tayea
The annual inflation rates fell to 11.1 percent in December 2018، compared to 22.3 percent in the same month of 2017، the Central Agency for Public Mobilization and Statistics (CAPMAS)said on Thursday.

In November، Egypt’s annual consumer price inflation recorded 15.6 percent، compared to 26.7 percent in the same month of 2017.

On a monthly basis، inflation decreased 4.1 percent in December، compared to the previous month، to record 296.5 points، the Central Agency for Public Mobilization and Statistics (CAPMAS) said.

CAPMAS attributed the decrease in inflation on a monthly basis to the decline of some commodities' prices as vegetables prices' decreased by 22.4 percent، meat and chicken by 2.3 percent، fruits by 0.6 percent، and fish by 0.5 percent.

In the period from January to December 2018، the inflation rate hit 14.1 percent.
Inflation surged in Egypt since the floatation of the Egyptian pound in November 2016، reaching a high record level in July due to energy subsidy cuts، and gradually easing since July.

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