CAIRO: Egypt’s annual urban consumer inflation retreated to 11.4 percent in June from 13.1 percent in May, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a Thursday report.
Meanwhile, Egypt’s annual urban inflation rate declined to 11.5 percent in June, compared to 13.5 percent in May.
CAPMAS attributed the decline mainly to an 11.8 percent slip in vegetables’ prices last month, while meat and poultry prices hiked 1.4 percent.
Inflation soared in Egypt last summer after the government cut energy subsidies by 40 billion EGP ($5.6 billion) in July, 2014, which raised fuel prices by up to 78 percent.