Egypt’s annual inflation rate rose to 6.5% in December 2021 from 6.2% the month before, according to CAPMAS.
More Details🧐 The consumer price index dropped, however, by 0.2% from 118.0 in November to 117.8 in December of last year. For a refresher on CPI vs. Inflation click here.
The slight drop is due to a decline in vegetable prices by 8.2%, fish & seafood by 1.4%, & meat & poultry by 1.2 %.
Prices rose elsewhere, such as a 0.9% increase in prices of cereal & bread, fruits by 0.9%, oils & fats by 0.6%, & ready-made garments by 0.7%.
Why is this Important🤔 The CBE’s target inflation rate is between 5-9%, meaning that the current inflation rate sits slightly below the midpoint of 7%.
