Annual consumer price inflation recorded to 5.3% in June 2021, reports the Central Agency for Public Mobilization and Statistics (CAPMAS), noting that on a monthly basis, inflation recorded 113.2 points in June 2021, an increase of 0.3%.

The rise was attributed to the price hikes of oil and fat products (13.5%), cheese and eggs (1.6%), and home maintenance products and services (0.3%).

On the annual core inflation rate, it rose 0.4%, recording at 3.8% in June 2021, said the Central Bank of Egypt (CBE) on Thursday. Core inflation excludes volatile items such as food prices.

Urban consumer inflation accelerated 4.9% in June, up from 4.8% in May 2021, wrote CAPMAS.

Annual price rises in urban areas saw a 20% increase in the educational sector, with the recreation and culture segment up 7.1%, the transport sector registered an annual jump in prices by 6.5%, and food and beverages saw an annual change of 3.4%.

In rural areas, the educational sector saw an annual surge of 44.2% while transportation saw 9.4%.

The food and beverages component in the consumer price index (CPI) registered an annual surge of 3.1 in June, with a month-on-month increase of 1.1%.

Although the pace of inflation has slowed down in June, it is likely to increase in July and August due to an average 15% hike in power prices applicable from July and chances of a fuel price hike, Allen Sandeep of Naeem Brokerage was quoted as saying by Reuters.