CAIRO Nov 10 Egypt's urban consumer inflation
accelerated in October, driven by higher consumer spending on
food and transport, the state CAPMAS statistics agency reported
CAPMAS said inflation rose to an annual 10.4 percent in
October from 10.1 percent in September. The central bank,
meanwhile, said core inflation was 11.15 percent in the year to
October - unchanged from the previous month.
Core inflation strips out subsidised goods and volatile
items including fruit and vegetables.
Inflation has been pushed up this year by a weaker Egyptian
pound, though the currency has steadily appreciated against the
dollar since the army deposed elected Islamist President Mohamed
Mursi on July 3.
"This is a big rise for inflation within one month," CAPMAS
head Abu Bakr al-Gindy told Reuters. "According to our
statistics there was an obvious increase in the prices of meat,
other food products and transport."
Gindy attributed the increase in the prices of meat to high
demand during last month's religious Eid al-Adha holiday, when
Muslims are required to distribute free meat to the poor.
Transport prices have gone up because more people are using
buses and taxis in the absence of train services suspended due
to security concerns. Gindy said inter-city travel had increased
since the academic year began in mid-September.
Authorities have imposed a state of emergency and a
night-time curfew since Aug. 14 after the crushing of pro-Mursi
protest camps led to nationwide unrest.