11 November 2012

Egypt: CAPMAS - Inflation Rate Continues to Surge for Fourth Month

The annual inflation rate rose in last October to hit 7% while the monthly inflation rate increased by 0.8%, compared to last September, to register 128.5 points, according to the Central Agency for Public Mobilization & Statistics (CAPMAS).

"Inflation went up for the fourth consecutive month, mainly due to the increase in the natural and butane gas prices by 57.8% compared to last September, the growth in the tuition fees of basic education by 12% and the increase in the prices of newspapers, books and stationery by 7.5%," said CAPMAS Chairman Maj. General Abu Bakr al-Gindi in statements on Saturday10/11/2012.

He said that the Eidul-Adha season last month witnessed an increase in prices of meats by 3.5%, hotel services by 6.4% and hospital services by 4.9%.

The inflation rate during the period between January and October this year rose to hit 8.1% compared to the corresponding period in 2011," said Gindi, adding foodstuffs and beverages prices increased by 9.8%.

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