10:27 AM Monday, July 10, 2023
I wrote – Sherine Salah:
The annual inflation rate for the entire republic rose last June to 36.8%, compared to 33.7% last May, according to a statement from the Central Agency for Public Mobilization and Statistics today, Monday.
According to the agency’s data, the annual inflation rate in cities rose last June to 35.7%, compared to 32.7%.
And the annual inflation rate in cities during last June was higher than the estimates of analysts, who spoke to Masrawy in a report yesterday, which ranged between 35 and 35.4%, and the annual inflation rates last month recorded historical levels, according to analysts.
The agency attributed the rise in the annual inflation rate for the entire republic during last June to the rise in food and beverage prices by 64.9% in June on an annual basis, the increase in grain and bread prices by 58.9%, and the rise in meat and poultry prices by 92.1%.
The prices of fish and seafood increased on an annual basis by 83.6%, the prices of dairy, cheese and eggs increased by 67%, and the prices of oils and fats increased by 31.1%, on an annual basis, according to the agency’s statement.
Fruit prices rose last June on an annual basis by 36.5%, vegetable prices increased by 53.6%, sugar and sugary food prices increased by 35.5%, and smoke prices increased by 45.4%, according to the statement.
The Central Bank set new targets for the inflation rate after exceeding the targets announced at the end of last year, which were set at 7% (±2%) during the last quarter of 2022.
At the end of last year, the Central Bank announced new targets for the annual inflation rate at 7% (±2%) on average during the fourth quarter of 2024, targeting its decline to 5% (±2%) on average during the fourth quarter of 2026.
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Expectations of announcing a historic level for the inflation rate in Egypt for the month of June tomorrow
2023-07-10 07:27:00
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