The annual change in Egypt’s Producer Price Index (PPI) fell to 9.9 percent in May 2010, from 15.8 percent in April 2010, mainly due to a drop in the annual change in prices of items in the food and mining and quarrying categories, showed data released by the government statistics CAPMAS.
The annual change in food and mining declined from 11.5 percent and 52.8 pecent in April 2010, to 6.4 percent and 26.1 percent in May 2010, respectively.
On a monthly basis, the change in the PPI registered -1.8 percent, compared to a 3.8 percent rise in April 2010.
In its daily market report, Beltone Financial said, “We had expected producers’ inflation to decline further to around 7.5 percent in May mainly due to the base effect. We expect producers inflation to fluctuate in the coming months, due to the base effect and effect of seasonal factors, remaining, however, below the double digit levels registered earlier in 2010.”