Egypt: Inflation in Cities Rises Up to 23.6%, Prices Rise By 30%
Egypt: Inflation in Cities Rises Up to 23.6%, Prices Rise By 30%
Wednesday, September 10,2008 22:33

The Central Agency for General Mobilization and Statistics showed Wednesday that customer prices in Egyptian cities increased by 23.6% per year till last August, compared to 22.0 % per year till July.

 

The Central Agency added that inflation in Egypt in general rose at a faster rate reacheing 25.6 %, compared to 23.1% in a year till July.

 

Economists focus on the inflation index in cities as the inflation index in the entire country used to be updated every two months.

 

Last year, foodstuff prices were one of the most prominent factors of inflation. In cities, they rose by 30.9% in a single year till August, apparently faster than any other sector excluding education, whose costs increased by 38 %, and hotels and restaurants whose costs also rose by 45%.

 

The poor in Egypt are the most affected by rising food prices because they spend the largest portion of their income on food.

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