The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that annual consumer price inflation in Egyptian cities continued to decline, reaching 4.8 percent in September from 7.5 percent in August, registering the lowest level since December 2012 was 4.7 percent. On a monthly basis, there was no change in inflation in Egyptian cities during September.
The prices of vegetables, fruits and food commodities in Egypt has witnessed continuous increases in recent years until the end of the first half of this year, which prompted the Ministry of Interior and the army to put some food commodities to citizens at prices below the market price in an attempt to alleviate the suffering of their shoulders, which supported a significant decline in some of their prices. According to the data, the September inflation rate is the lowest since December 2012.
"The main reason for this decline is the increase in the supply of vegetables and fruits by the government this year compared to last year," said Radwa Al-Swaifi, Head of Research at Investment Bank (Pharos).
Source (Asharq Al-Awsat newspaper, Edited)
