Egypt: Inflation jumps back up in October
November 10, 2014
In October, consumer prices increased 1.7% over the previous month, which was above September’s 1.2% increase. According to the Central Agency for Public Mobilization and Statistics, the figure mainly reflected much higher prices for education due to the start of the new school year.
Annual inflation jumped from 11.1% in September to 11.8% in October, which marked the highest level since November of last year. Annual average inflation inched up from 10.4% in September to 10.5% in October, which represented an over three-year high. Inflationary pressures have increased since the government raised fuel prices in June. Core inflation, which excludes volatile items such as energy and food, declined from 9.2% in September to 8.5% in October.
Author: Carl Kelly, Economist