Annual inflation rises to 11.8% YoY in November

Menna Samir
2 Min Read
Bassem Ouda stated that the government had 3m tonnes of domestic wheat left in its stores left from a 3.7m tonne purchase from the current harvest. (AFP Photo)

Egypt’s annual consumer urban inflation increased to register 11.8% in November 2015, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a Thursday report.

The latest record is a significant rise when compared to the 8.5% registered in the same period last year.

Core inflation also went up from 6.26% in October 2015 to 7.44% in November, the Central Bank of Egypt (CBE) said.

Statistics from CAPMAS on annual inflation change, by comparing November of this year to November of the preceding year, showed that the department of education witnessed an increased rate of 11.5%, while a 10.1% increase was seen by the culture and entertainment department, and restaurants and hotels witnessed a significant increase of 15%.

Meanwhile, CAPMAS indicated that monthly inflation took a slight downward trend in November with a 0.3% decline compared to the preceding month.

By comparing November to October of this year, statistics show a slight decreases in prices for a number of products those include vegetables by 7.6%, food and beverages by 1.7%, while the fish and sea food group rate went down by 1.3%.

Month to month comparisons also showed an increase in prices for a significant number of products, such as the clothing and footwear by 4.4%. The health care department rates went up by 6%, the housing, water, electricity, gas and fuel group increased by 0.2%, while several other groups of products also witnessed slight increases.

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