World Economy

Egypt Inflation Jumps

Egypt Inflation JumpsEgypt Inflation Jumps

Egypt’s annual inflation rate accelerated 11.8% in November compared to 10.3% in October, official statistics agency CAPMAS announced, Albawaba reported. The annual consumer price index registered in November the highest rate since May 2015, when the high food prices drove it to hit 13.1%. The Egyptian government has introduced discounted foodstuff all over the nation in an effort to curb rising food prices. Prices of food and beverages, the main contributor in the consumer price index, saw an annual rise of 15.1% in November. Urban inflation rose 11.1% in November year-on-year, while rural inflation increased 12.7% in the same period.