Egypt’s monthly inflation rate drops 0.5 percent in November

MENA

The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) said that the monthly inflation rate dropped by 0.5 percent in November compared to October, with the annual inflation rate hitting 2.7 percent in November compared with 15.6 percent in the same month of the year before.

A statement on consumer prices by CAPMAS said the reason behind decline of inflation is the decrease by 4.3 percent monthly decline in prices of vegetables in November compared with October.

It also recorded a 3.5 percent decrease in the prices of fruits, 1.7 percent drop in the prices of meat, 1.8 percent decrease in the prices of fish and a decrease of 1.7 percent in the prices of other food products.

The statement also recorded a rise in the price of clothes by 1.3 percent, beverages by 1.6 percent and others.