Egypt’s urban inflation slows to 3.4% in August from 4.2% in July: CAPMAS

Last updated: September 10, 2020 3:51 pm

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TO GO WITH AFP WORLD INFLATION SERIES: An Egyptian woman looks at goods at a supermarket in Cairo on March 12, 2008. The Egyptian government has been struggling to tackle a growing tide of discontent over the sky-rocketing prices of goods. Last week, the authorities announced plans to suspend rice exports for six months from April and the commerce ministry said cement exports will also be frozen over the same period in a bid to combat price rises. Official figures show staple food prices spiralling in Egypt, the world's largest consumer of bread, by 26.5 percent in a year. AFP PHOTO/ KHALED DESOUKI

The Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that Egypt’s consumer price inflation decreased to 3.4% in August 2020, compared to 4.2% in July.

The annual inflation rate stood at 3.6% in August 2020, compared to 4.6% in the previous month.

In a statement on Thursday, the agency indicated that Egypt’s general consumer price index reached 107.4 points in August 2020, registering a 0.3% decrease from July 2020.

CAPMAS attributed the downturn to the decrease in fruit prices by 10.4%, meat and poultry by 4.4%, fish and seafood by 2.7%, vegetables by 2.6%, clothes and shoes by 0.3%, and ready meals by 0.3%.

This comes despite the increase in prices of transportation services by 7.4%, medical products, devices and equipment by 3.2%, hospital services by 1.9%, personal effects by 1.8%, goods and services used in home maintenance by 0.5%, outpatient services by 0.4%, water and various services related to housing by 0.4%, and housing rent by 0.1%.