دبلوماسية

Annual consumer price inflation inches down to 6.2% in Nov. 2021| CAPMAS

down from 6.3% in November 2020, and 7.3% in October 2021, wrote the Central Agency for Public Mobilization and Statistics (CAPMAS) today.

Annual urban consumer price inflation fell to 5.6 percent in November, on an annual basis, from 6.3 percent in October, CAPMAS stated.

The consumer price index (CPI) stood at 118 points in November, maintaining its October level, attributed to both increases and decreases in several commodities.

Egypt’s core inflation increased to 5.8% year on year in November from 5.2% in October, according to CAPMAS data.

Monthly headline urban CPI inflation recording 0.1% in November 2021, compared to 0.8 percent in the same month of the previous year and to 1.5 percent in October 2021. Accordingly, the annual headline inflation rate recorded 5.6 percent in November 2021 compared to 6.3 percent in October 2021.

The statistics agency pointed towards increase in the prices of the prices of the oils and fats category increased by 13.7 percent, cereals and bread by 3.2 percent, dairy and eggs by 1.0 percent, ready-made clothes by 2.7 percent, hospital services by 1.5 percent and hospital services by 1.5 percent.

Outpatient services group prices saw an incline of 0.8%, while medical products, devices and equipment category by 0.4%.

Annually, food and beverage prices surged by 9.3% in November 2021, while grocery prices declined by 11% in November, fruits dropped 5.1%, and meat and poultry fell by 3.4%.

The Central Bank of Egypt aims to achieve an inflation rate of 7 percent (±2) percentage points   on average during the fourth quarter of 2022.

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