Friday , June 18 2021

Central Bank: inflation will rise to 8.86% in October



CAIRO, November 10 (Reuters) – Inflation rose 8.86 percent in October from 8.55 percent in September, the central bank said this Sunday.

Basic inflation does not include merchandise such as fruits and vegetables due to sudden fluctuations in their prices.

Inflation jumped after Egypt released its exchange rate in November 2016 until reaching a record in July 2017 due to energy cuts, but since then gradually declined.

Egyptians, of whom millions live below the poverty line, complained of difficulties in meeting basic needs after successive jumps in fuel prices, medicines and transportation.

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(Press coverage Ihab Farouk – edited by Ahmed Elhamy – Tel. 0020223948031) (([email protected]))


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