Egypt inflation rate up 1% in June

The monthly inflation rate upped by 1 percent in June compared to the previous month, said the Central Agency for Public Mobilization and Statistics (CAPMAS). The annual inflation rate also hit 10.9 percent in June compared to the corresponding period of 2012, CAPMAS Chairman Abu-Bakr el-Gendi told MENA. Prices of food and beverages took an upturn in June by 2.3 percent compared to the month before and by 13.8 percent compared to the corresponding period of last year, Gendi said. Inflation in rural areas rose by 1.1 percent in June in comparison with the previous month. In urban areas, the inflation rate inched up by 0.9 percent, he added.