A report issued by the Central Bank of Egypt showed that the GDP growth rate reached 7.7 percent during the second quarter of 2021, compared to 2.9 percent during the previous quarter. The economic growth during the second quarter of 2021 was driven by the positive contributions of both total domestic investment and consumption.
The annual rate of urban inflation rose to 6.6 percent in September 2021 from 5.7 percent in August 2021. The annual core inflation rate also rose in September 2021 to reach 8.4 percent from 5.4 percent in August 2021.
The increase in the annual general inflation rates during September 2021 is a result of monthly increases, especially the rise in tomato prices. The increase is mainly due to the increase in the annual contribution of food commodities. Where the annual rate of food inflation increased for the fifth consecutive month to 10.6 percent in September 2021 from 6.6 percent in August 2021. This partially limited the decline in the annual rate of non-food inflation to 4.9 percent in September 2021 from 5.3 percent in August 2021, the lowest recorded rate since December 2012.
Source (Al-Arabiya.net Website, Edited)
