Cairo – Mubasher: Egypt’s inflation is expected to increase by a range from 2.5% and 3.5% during the third quarter of the current fiscal year, according to a report released by Beltone Research.
The increase in inflation will come in tandem with the lift of subsidies on fuel, water, and electricity, the report added.
The average inflation rate will reach 13.7% in the second six months of 2019, supported by a strong Egyptian pound, Beltone’s data showed.
The growth of Egypt’s inflation in May stemmed from the increase in the prices of food in Islam's holy month of Ramadan.
In May, the North African country’s annual urban consumer price inflation went up 1.1%.