Egypt's inflation rate hits record for 2nd consecutive month

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Egypt's inflation rate hits record for 2nd consecutive month

STORY: Egypt's inflation rate hits record for 2nd consecutive month DATELINE: Aug. 11, 2023 LENGTH: 00:01:20 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Agency for Public Mobilization and Statistics of Egypt 2. various of a market and restaurants 3. various of a cigarette kiosk 4. various of the Central Bank of Egypt STORYLINE: Egypt's annual inflation rate rose to an all-time high of 38.2 percent in July, up from 14.6 percent in the same month a year earlier and set a national record for the second month in a row, the country's Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Thursday. The record year-on-year increase was mostly driven by price hikes of grains, hotels, alcohol and cigarettes, and healthcare. Food and drink prices registered a 68.2-percent increase compared to that of July 2022, the CAPMAS said in a statement. The previous record of annual inflation rate rise was registered last month at 36.8 percent. Egypt's price hikes persisted eve

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