Mubasher TV
Contact Us Advertising   العربية

Egypt’s annual inflation drops to 8.9% in June – CAPMAS

Egypt’s annual inflation drops to 8.9% in June – CAPMAS
Egypt's government aims to slash inflation rate below 10% in FY19/20

Cairo – Mubasher: Egypt’s annual inflation fell to 8.9% in June, compared to 13.8% in the same month a year earlier, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Wednesday.  

The consumer price index (CPI) declined by 1% month-on-month, recording 307.8 points last month, the CAPMAS added.

The monthly drop in inflation rate was supported by the price reductions of vegetables as well as meat and poultry by 10% and 1.2% in June, respectively.  

Previously, the Egyptian finance minister Mohamed Maait revealed that the government aims to slash inflation rate below 10% in fiscal year 2019/2020, adding that there are also plans to cut inflation rate to 6-7% during fiscal year 2020/2021.