Egypt’s annual headline inflation falls to 4.6% in July, monthly rate jumps to 0.2%: CAPMAS

Egypt’s annual headline inflation falls to 4.6% in July, monthly rate jumps to 0.2%: CAPMAS

Egypt's annual headline inflation rate declined to 4.6 percent in July (the lowest since November), down from 6 percent recorded in June, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced on Monday.

The annual inflation rate also dropped in cities to 4.2 percent in July, down from 5.6 percent in June, according to CAPMAS.

On the other hand, the monthly inflation rate saw an increase to record 0.2 percent in July, compared to a negative rate registered in June of -0.1 percent.

CAPMAS attributed the surge in the monthly inflation rate to the increase in energy and oil product prices by 11.2 percent, hotels services by 2.7 percent and services introduced at walk-in clinics by 1.5 percent, while vegetables prices witnessed a decrease by 1.8 percent,