Cairo – Mubasher: Egypt's inflation rate grew by 0.9% month-on-month (MoM) in July 2022.

The country's Consumer Price Index (CPI) reached 131.0 points in July 2022, according to the latest data by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt’s annual inflation rate surged to 14.6% in July 2022, compared to 6.1% in the same month a year earlier.

The increase is driven by higher prices of cereals and bread by 1.0%, dairy products and eggs by 5.2%, fruits by 7.5%, and tobacco by 3.3%.

In contrast, the prices of vegetables retreated by 10.8%.

In June of the year, the annual inflation rate registered 14.7%.