Egypt's annual inflation jumps to 15.3 pct amid price hikes

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Egypt's annual inflation jumps to 15.3 pct amid price hikes

STORY: Egypt's annual inflation jumps to 15.3 pct amid price hikes DATELINE: June 10, 2022 LENGTH: 00:01:06 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egypt's Stock Exchange STORYLINE: Egypt's annual inflation rate rose to 15.3 percent in May compared with 4.9 percent in the same month last year, Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Thursday. On a monthly basis, the inflation rate in May increased by 0.9 percent compared with that of April, the CAPMAS added. It attributed the year-on-year increase in inflation to price hikes in basic commodities and services like food by 27.9 percent, clothes by 7.9 percent, and fuel by 8.5 percent, appliances by 6 percent, and transportation by 6.3 percent. The Central Bank of Egypt raised its interest rates by 200 basis points on May 19, citing rising inflation. The new rise in inflation could have an impact on the bank's monetary policy committee's upcoming meeting later this month for a further

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