The Central Agency for Public Mobilization and Statistics (CAPMAS) reported on Monday that inflation rates surged in January to reach 12.2% compared to the same period last year.
The report added that inflation rates also jumped by 1.6% between December 2013 and January 2014.
CAPMAS’s report indicated that the general prices of foods and beverages ascended by 3.6%, compared to the preceding month. Meanwhile, the same prices accelerated by 19.1% compared to the same period last year.
The jump in inflation rates continued as urban inflation rate also increased to 1.7% month on month and by 13.2% year on year.
In December, inflation rates saw a minor decline after their 1.3% decrease from November’s statistics. It was the second monthly decline in inflation rates during 2013, the first being in May, when rates slowed by 0.2% month on month.