The Central Egyptian Group for Public Recovery and Statistics on Sunday said the annual inflation of consumer price in the cities increased to 12.7% in January from 12% in December.
The inflation has been steadily declining in the last few months, driven by an increase in fuel prices, electricity and transport in 2018 to a high level of 17.7 per cent in October.
"Food and drinks are a major cause for inflation rising," said Radwa Al-Suweifi, head of research at an Egyptian property bank Faros. "What's happening is changing prices from makers at the start of the new year to change the profit campaigns.) When the support was reduced and there was no Some of the prices then built a decline in sales sales.
Prices of vegetables and fruits in Egypt have seen a steady increase over the recent period, which inspired the Interior Ministry and the army to be able to; food for citizens at prices lower than market and price in an effort to reduce the suffering of their shoulders.
Last year, the government built the prices on petroleum products, subway, water and electricity tickets and a number of services.
The Egyptians, millions of them remain under poverty, Complaints about problems in meeting basic needs following continued levels of fuel, medicine and transport prices.
Compared to previous months, consumer prices in cities in Egypt increased by 0.6% in January, following a 3.4% contract in December.
"The monthly increase is higher than expected and this could be a symbol of the stability of mental rates at the midnight meeting expecting inflation next month," said Al-Suweifi. "Energy level description goes on on Thursday," said Aae Sandeep, head of research at Naeem Brokerage.
The main bank held key interest rates unchanged at the December meeting. A & # 39; Last step of interest in March 2018, when the overnight deposit and 100bps loan yield were cut to 16.75% and 17.75%, respectively. (Reuters)