The Central Agency for Public Mobilization and Statistics (CAPMAS) has estimated the annual inflation rate in April at 32.9 percent, compared to 32.5 percent in March, expecting the rate to go higher. The monthly rate in April reached 1.8 percent, compared to 2.7 percent in March. CAPMAS blamed the the higher inflation on the increase in prices of vegetables by 7.2 percent, meat and poultry by 2.5 percent, fish and seafood by 7.9 percent, fruits by 4.6 percent and pre-prepared meals by 0.7 percent. He added that those with low incomes are forced to depend on as much of their income as they can spare or loans to fulfill their basic needs. Qassim expects the inflation rate to go higher during the coming few months in the case that the government makes any decision to raise electricity or natural gas prices by beginning of the new fiscal year.

Source: Egypt Independent May 11, 2017 12:00 UTC