Consumer price inflation in Egyptian cities rises to 4.8% in May

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Data from the Egyptian Central Agency for Public Mobilization and Statistics showed today, Thursday, that consumer price inflation in cities rose to 4.8% in May on an annual basis, from 4.1% in April.

On a monthly basis, price inflation in May recorded 0.7%, compared to 0.9% in April.

The Central Bank of Egypt’s inflation target until the end of 2022 is 7%, plus or minus two percentage points.

The agency attributed the increase in inflation to the increase in the fruit group by 9% and vegetables by 5.3%, especially potatoes by about 14%.

The poverty rate in Egypt decreased to 29.7% in the fiscal year 2019-2020 from 32.5% in 2017-2018, and the average annual net income of the family at the level of the Republic increased by 14.4% to 69.1 thousand pounds in 2019-2020 from 60.4 thousand pounds in 2017-2018, according to for government data.







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