Egypt’s urban CPI inflation falls to 5.1% in March: CAPMAS

Hossam Mounir
2 Min Read

The urban consumer price index (CPI) inflation in Egypt has declined to 5.1% in March, compared to 5.3% in February, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

On a monthly basis, consumer prices inched up 0.6%, after being flat in February, the agency added in a Thursday statement.

As for the annual inflation, it fell to 4.6% in March, compared to 4.9% in the preceding month, and 13.8% in March 2019.

The agency said that the core consumer prices in Egypt totaled 105.8 points in March, an increase of 0.6% compared to February.

CAPMAS attributed the increase to the rise in fruit group prices by 3.7%, the meat and poultry by 2.4%, the fish and seafood by 1.6%, the grain and bread by 0.5%, the tobacco by 5.4%, the garments by 0.6%, and outpatient clinic services by 0.7%.

However, the prices of milk, cheese, and eggs decreased by 0.8%, and the group of vegetables also decreased by 0.7%.

Inflation figures remain within the Central Bank of Egypt’s target of 9% (±3%).

Egypt has witnessed surge in the prices of vegetables, meat, and some food commodities in the recent weeks in light of the repercussions of the coronavirus pandemic and accompanied by precautionary measures, mainly night-time curfew, which prompted the army and the government to intervene to provide basic products at lower prices than the market.

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