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Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) reported an increase in annual consumer price inflation in Egyptian cities to 16 percent in September from 14.2 percent in August. Compared to the previous month, consumer price inflation in Egyptian cities was 2.5 percent in September compared to 1.8 percent in August.
The Central Bank of Egypt announced that domestic and external risks will threaten the outlook for consumer prices (inflation) in the country, linked to the expected increases in fuel prices, in addition to the increase in global interest rates.
"The monthly inflation rate at 2.5 percent is much higher than the estimate of 1.0-1.5 percent," said Radwa El-Swaify, head of research at Investment bank. Explaining that "the increase in figures reflects the huge rise in the prices of vegetables and fruits on monthly basis and to a lesser extent the rise in prices due to the return to school season and the late increases in prices by producers to transfer the increase in energy and utility costs to the consumer."

Source: (Al-Arabiya Al-Jadeed newspaper, Edited)