Data from the Egyptian Central Agency for Public Mobilization and Statistics showed today, Monday, that annual consumer price inflation in Egyptian cities rose from 32.7% in May to 35.7% in June.
The data showed that the annual inflation rate for the whole country was 36.8% in June 2023, compared to 33.7% in May and 14.7% in the same month of the previous year.
The general consumer price index for the whole country in June 2023 reached (177.6) points, having increased by (2.0%) compared to May 2023.
Reuters polled 12 analysts whose median forecast was that annual urban consumer inflation would rise to 34.5% in June from 32.7% in May, just below the record high recorded in 2017.
The Central Bureau of Statistics stated that the reasons for such a jump are associated with an increase in prices for a group of meat and poultry by (3.3%), a group of fish and seafood by (2.9%), a group of dairy products, cheese. and eggs by (0.4%), oil and fat group by (0.2%), fruit group, with the norm (5.7%), sugar and sweet foods group, with the norm (1.4%).
Prices for the coffee, tea and cocoa group rose by (4.4%), the mineral and soda water and natural juices group by (3.3%), the smoke group by (18.4%), the textile group by (2.1%). %), a group of ready-made clothes by (2.1%), a group of cleaning, repair and rental of clothes (2.1%), a group of shoes (1.4%), a group of shoe repair (1.2%).
The prices of the group of actual rental housing increased by (0.6%), the group of maintenance and repair of housing by (2.0%), the group of household appliances by (4.9%), the group of dishes, cutlery and household items by (2.0%). .9%), while the vehicle purchase group by (1.6%), the transport services group by (0.5%).
The central bank is forced to raise interest rates to curb inflation, but at its last meeting on June 22, it left them unchanged at 18.25%. Since March 2022, the bank has raised interest rates by a total of 1,000 basis points.
Source: agencies