CAPMAS: Monthly inflation rate up by two percent in July

A man counts his bills at a foreign exchange office in downtown Cairo June 5, 2014. Egypt's annual core inflation rate, which strips out subsidised goods and volatile items including fruit and vegetables, slowed to 8.86 percent in May from 9.11 percent in April, the central bank said on Tuesday. Picture taken June 5, 2014. REUTERS/Amr Abdallah Dalsh (EGYPT - Tags: POLITICS BUSINESS) - RTR3T1W4

The Central Agency for Public Mobilization and Statistics (CAPMAS) said that the inflation rate recorded 181.1 points in July, marking a two-percent rise compared with June.

The inflation rate rose to 38.2 percent on an annual basis in July 2023 against 14.6 percent in the same month last year.

The most important reasons behind this uptick in the inflation rate on an annual basis is the increase of the prices of food and beverage by 68.2 percent, fruits by 42.8 percent, meat and poultry by 93.4 percent, oils by 30.6 percent, and dairy products and milk by 64.7 percent, CAPMAS said in its monthly statement.