Inflation up to 11.8%

Prices in Egypt increased 0.7 percent in March, as inflation hit an annual rate of 11.8 percent, according to figures released yesterday by the government statistics agency.

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that since February, food and beverage prices increased by an average of 1.2 percent across Egypt. In addition, the prices of water, electricity and fuels increased by an average of 1.3 percent, furniture by 4 percent, clothes by 1.8 percent, and education by 9.4 percent.

The CAPMAS statement indicated that the price of meat and poultry increased by a record 3.1 percent in March, while the price of fruit rose by 1.5 percent, vegetables by 1.2 percent, dairy products by 0.9 percent, and seafood by 0.6 percent.

The annual inflation rate for food and beverages in Egypt has reached record levels. The prices of food and beverages increased by 19.6 percent between March 2009 and March 2010, a 17.9 percent hike in rural areas, and a 21.2 percent in urban areas.

Translated from the Arabic Edition.

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