Inflation in Egypt's cities continued its downward path in December for the third consecutive month, under pressure from the impact of the base year, despite the continued rise in the prices of some foodstuffs and the shortage of some of them, with the scarcity of hard currency needed for imports.
Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the annual inflation rate in Egyptian cities reached 33.7 percent in December, down from 34.6 percent in November.
According to the agency's statistics, food and beverage prices rose 60.5 percent year-on-year in December. On a monthly basis, inflation in Egypt's cities recorded 1.4 percent in December, up from 1.3 percent in November.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
