Egypt’s annual headline inflation hits highest level since pound flotation, rising to 29.6 pct in Jan

Market11/02/2017 (Ahram Online – Egypt):Egypt’s annual headline inflation rose to 29.6 percent in January from 24.3 percent in the previous month, hitting its highest level after the country freely floated its currency against the dollar in November, state statistics body CAPMAS announced Saturday. Annual headline inflation was registered at 10.7 percent in January 2016. In an emailed statement today, CAPMAS attributed the spike in inflation to price hikes in basic goods and services. The cost of foodstuffs and beverages rose by seven percent in January 2017 compared to November 2016 and 38.6 percent year-on-year…




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