Inflation rate in July up 3.3 percent
Inflation rate in July up 3.3 percent
Cairo - Mena
The monthly inflation rate inched up 3.3 percent in July to stand at 256.6 points against 248.4 points in June, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
According to a monthly bulletin, a copy of which MENA received, the annual inflation rate rose to 34.2 percent in comparison with July 2016.
The government has increased fuel prices in June to cut subsidies, the bulletin noted.
Prices of food and beverages increased by 2.4 percent in July compared with June.
Prices of food and beverages upped 43 percent in July 2017 compared with the previous year.
The inflation rate in urban areas ratcheted up by 3.2 percent in July in comparison with the previous month.The annual inflation rate increased by 33 percent compared to last year.
In rural areas, inflation recorded a rise of 3.3 percent in July to reach 266.8 points against June. While, the annual inflation rate upped by 35.7 percent in July compared to the same month in 2016.
Source: Mena
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