Egypt: Inflation comes in at highest level since December 2020 in June
July 8, 2021
Consumer prices increased 0.19% in June over the previous month, which was below the 0.68% increase seen in May. June's result marked the softest rise in prices since February. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a slower pace in June. Prices for transportation also rose at a softer rate.
Inflation rose to 4.9% in June from May’s 4.8%. June's result represented the highest inflation rate since December 2020. Annual average inflation fell to 4.5% in June (May: 4.6%). Core inflation rose to 3.8% in June, from the previous month's 3.4%.
Author: Stephen Vogado, Economist