ECONOMY

Egypt consumer inflation picks up to 11.5 percent

Egypt's annual urban consumer inflation climbed to 11.5 percent in August. (Reuters)

Egypt's annual urban consumer inflation climbed to 11.5 percent in August from 11 percent in July, the official statistics agency CAPMAS said on Wednesday.

Egypt's economy has been in turmoil since a popular uprising ousted autocrat Hosni Mubarak in 2011, deterring tourists and foreign investors and straining the country's finances and foreign reserves.

Egypt's annual core inflation -- which strips out subsidized goods and volatile items such as fruit and vegetables -- climbed to 10.07 percent in August from 9.57 percent in July, the central bank said.

Despite billions of dollars in aid from Gulf states and two stimulus packages, economic recovery in the most populous Arab nation has been slow.


 

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Last Update: Wednesday, 10 September 2014 KSA 14:54 - GMT 11:54
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Egypt consumer inflation picks up to 11.5 percent
Egypt's economy has been in turmoil since a popular uprising ousted autocrat Hosni Mubarak in 2011
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