Inflation in urban parts of Egypt quickened to 13.6% year-on-year in July versus 13.2% in June as rising food prices and a local hike in fuel costs added more pressure to consumers.
On a monthly basis, the inflation rate increased to 1.3%, from negative 0.1% in June.
The state-run statistics agency CAPMAS says a 22.4% annual rise in food and beverages, the largest single component of the inflation basket, was a major driver.
Authorities raised fuel prices in July, likely contributing to a 17% annual rise in transportation costs. As a combined inflation component, housing, water, electricity and fuel climbed 5.2%.
The country’s central bank delivered its biggest interest rates hike in nearly half a decade in May.
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