(AFP Photo / Cris Bouroncle)
Annual inflation rate in Egypt reached 13.5% in May 2015, compared to 11% in April 2015, an increase of 2.5%, according to a statement from the Central Agency for Public Mobilization and Statistics (CAPMAS) on Wednesday.
According to the statement, the annual inflation rate reached 11% in April, 11.8% in March, and 10.7% in February. However, last May it reached 166.9 points, compared to 164.7 points.
The agency attributed the high rate of inflation to the increase in the prices of food and drinks, which rose by 2.5% in May to reach 195.6, points while they stood at 190.8 in April. The prices also rose by about 15.6%, compared to May 2014.
Vegetable prices increased by 7.7%, meat and poultry by 2.7%, fruits by 0.8%, seafood by 0.6%, whereas sugar increased by 1.1%, according to the statement.
“Although gold prices had declined by 1.2%, ready meals prices rose by 0.8%, water consumption by 2.2%, purchasing vehicles by 1.5% and organised tourist trips by 0.6%,” the statement said.
The statement also said that the inflation rate rose from January to May 2015 by about 11.4%, compared to the same period last year. The prices of food and drinks also increased in that period by 9.7%.
After the government cut energy subsidies in July 2014, inflation in Egypt took an upward trend and reached its peak at 11.8% in October.
