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Skyrocketing vegetable prices push inflation to 9.2 percent in September

Skyrocketing vegetable prices push inflation to 9.2 percent in September
Courtesy: shutterstock.com

The cost of living in Egypt shot up in September, as annual consumer inflation accelerated to 9.2 percent, up from 7.9 percent in August, according to state statistics agency CAPMAS.

 

The monthly rate rose to 2.8 percent, compared to 0.63 in August. This is the highest monthly rate recorded since July 2014, when prices rose 3.6 percent on the back of fuel subsidy cuts.

 

The increase in September was driven by a spike in vegetable prices, up by 19.2 percent during the month. Other types of food also got more expensive, including a 2.3 increase in meat and poultry prices, and a 1.2 percent rise in fruit prices.

 

Rises in food prices particularly affect poor Egyptians, with more than half of the expenditure of low-income families typically being spent on food.

 

Significant price increases were also recorded for school uniforms (up 17 percent), outpatient medical services (up 14.4 percent) and hospital care (up 7.4 percent).

 

The rise in prices comes after months of declining annual inflation. June, July and August saw relatively low annual inflation, with prices evening out after fuel subsidy cuts were introduced in July 2014.

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