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Egypt’s inflation rate rises by 2.3 per cent

Food and beverage prices rose by 2.6 per cent last month to reach 208.8 points

According to a statement issued by the Central Agency for Public Mobilization and Statistics (CAPMAS), the monthly inflation rate rose by roughly 2.3 per cent last October, compared with the 2.8 per cent recorded in September.

CAPMAS reveals in the statement that the annual inflation rate last month reached 10.3 per cent compared with October 2014.

The statement adds that food and beverage prices rose by 2.6 per cent last month to reach 208.8 points, compared with 203.4 points in the previous month. The prices rose on an annual basis by approximately 12.9 per cent.

The statement points out that the inflation rate between January to October 2015 rose to hit 10.4 per cent compared with the same period last year, Egypt-based Al Wafd newspaper reports.

“The monthly inflation rate in urban areas rose by around 2.2 per cent during October, and increased on an annual bases compared to October 2014 to record 9.7 per cent,” the statement adds.

“Inflation rates in the countryside rose last month compared to September by around 2.5 per cent to hit 180.7 points compared to 176.3 points in September,” the statement concludes.