Egypt’s annual consumer price inflation dropped to 12.5% in April 2019, compared to 12.9% in April 2018, according to Central Agency for Public Mobilization and Statistics (CAPMAS) on Thursday.
The CAPMAS said that the monthly inflation rate increased by 0.4% in April, recording 308.1 points, compared to 307 points in March.
Furthermore, the CAPMAS attributed the increase in the monthly inflation rate to the increase in prices of food and drinks’ commodities by 0.3%, as fruits prices rose by 12.9%; fish and sea food by 5.6%; cereals and bread by 0.9%; ready-made clothes by 2.3%, and organised tours by 4.5%.
The government has recently announced that it targets an inflation rate of 13% in the current fiscal year 2018/19.
