Egypt’s Inflation rate decreases to 2.4% in October: CAPMAS

The Central Agency for Public Mobilization and Statistics (CAPMAS) said on Saturday that the annual rate of Egypt’s inflation declined in October to 2.4 percent, compared to October last year which recorded 17.5 percent.

In its monthly statement on the consumer prices index, CAPMAS said that the monthly inflation rate increased during October by about one percent to reach 105.1 points, compared to 104 points in September.

The prices of food and drinks during the past month decreased by 2.1 percent, compared to September, while rising by 8.3 percent on a yearly basis compared to October 2018, the statement noted.

CAPMAS pointed out that the inflation rate from January to October 2019 amounted to 9.6 percent.

The urban inflation increased during October to reach one percent, while on an annual basis, the urban inflation rate reached 3.1 percent. The rural areas inflation rate rose in October to one percent, and on an annual basis, the inflation rate reached about 1.7 percent.

Edited translation from Al-Masry Al-Youm

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