Egypt Inflation reaches a new level and the announcement of high water prices

The Egyptian government for the first time in 6 months published a report on the decline in headline inflation, despite the ongoing effects of the Russian-Ukrainian crisis.

The report revealed that the general inflation in the cities of the republic on a monthly basis for the first time since December 2021 reached a negative value, as recorded – 0.1% in June 2022 compared to 1.1% in May 2022, 3.3% in April 2022. and 2.2% in March 2022, 1.6% in February 2022 and 0.9% in January 2022.

This comes as the inflation rate was -0.1% in December 2021 compared to 0.1% in August and November 2021, 1.5% in October, 1.1% in September and 0.9% in July of the same year. price index in urban areas of the republic, rate of change -1.8% during June 2022 compared to May 2022.

As for the change in the price index of commodity groups for June 2022 compared to May 2022, the report showed a decrease in prices for vegetables by 16.7%, fruits by 14%, while prices for dairy products, cheese and eggs, and also sugar and sweet products by 1.2%, cereals and bread went up by 1.2%, 1.6%, oils and fats by 1.7%, meat and poultry by 1.8%.

At the same time, prices for mineral and carbonated water and natural juices increased by 2%, for fish and seafood – by 2.2%, and for coffee, tea and cocoa – by 2.3%.

The report looks at the development of annualized headline inflation for the urban population since the start of the corona crisis, between January 2020 and June 2022, as recorded during 2022, 13.2% in June, 13.5% in May, 13.1% in April, 10.5% in March, 8.8% in February and 7.3% in January.

In 2021, according to the report, the inflation rate reached 5.9% in December, 5.6% in November, 6.3% in October, 6.6% in September, 5.7% in August, 5.4% in July, 4.9% in June, 4.8%. in May, 4.1% in April, 4.5% in March and February, and 4.3% in January.

Supplement the review of inflation rates; During 2020, it reached 5.4% in December, 5.7% in November, 4.5% in October, 3.7% in September, 3.4% in August, 4.2% in July and 5. 6% in June, 4.7% in May, 5.9% in April. , 5.1% in March, 5.3% in February and 7.2% in January.

Source: Cairo 24