Arab Today, arab today inflation in egypt jumps by 28 in february
Last Updated : GMT 22:04:34
Arab Today, arab today
Arab Today, arab today

Inflation in Egypt jumps by 2.8% in February

Arab Today, arab today

Arab Today, arab today Inflation in Egypt jumps by 2.8% in February

Cairo - Arabstoday

Annual urban consumer inflation [in Egypt] shot up to 8.7 percent year-on-year (y-o-y) in February, up from 6.6 percent in January according to data just released by the Central Agency for Public Mobilisation and Statistics (CAPMAS). Albawaba Business Month-on-month (m-o-m) urban consumer inflation also reached 2.8 percent last month, its highest levels since September 2010. The inflation rate "could rise more given the ongoing unrest and huge losses in the value of the Egyptian pound of around 10 percent of its value since the start of the year," EFG Hermes economist Mohamed Abu Basha told Reuters. Abu Basha attributed the hike to higher imported food and fuel prices resulting from the local currency's rapid devaluation. Food price inflation reached 9.7 percent y-o-y in February, and 2.9 percent m-o-m.   Electricity price inflation reached 16.2 percent y-o-y and natural gas and butane gas hit 51.8 percent y-o-y. Healthcare inflation went up to 13.6 percent y-o-y and 7.6 percent m-o-m in February. from: albwaba

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Arab Today, arab today inflation in egypt jumps by 28 in february Arab Today, arab today inflation in egypt jumps by 28 in february

 



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