Annual urban consumer price inflation increased to 5.9% in December
Egypt’s annual inflation rate climbed to 6.5% in December 2021, up from November’s 6.2% and December 2020’s recorded 6%, revealed latest data by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Annual urban consumer price inflation increased to 5.9% in December, compared to 5.6% in November 2021.
The consumer price index (CPI) stood at 117.8 points in December 2021, recording a drop of 0.2% from November, to reach 5.4%, down from 5.6% in November.
CAPMAS attributed the decline to lowered prices of vegetables by 8.2%, fish and seafood by 1.4%, and meat and poultry by 1.2%.
On the other hand, the prices of cereals and bread, fruits, and ready-made garments increased by 0.9%, 0.9%, and 0.7%, respectively.
Electricity, gas, and other fuel materials also registered a 1.4% increase in its prices.
The Central Bank of Egypt scheduled the first meeting of its Monetary Policy Committee (MPC) for 2022 on 3 February to review the key interest rates in light of the recent macroeconomic updates on the global and local levels, especially the recent inflation figures.