Egypt's inflation hits record 39.7 pct

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Egypt's inflation hits record 39.7 pct

STORY: Egypt's inflation hits record 39.7 pct DATELINE: Sept. 11, 2023 LENGTH: 00:01:20 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of markets and customers in Cairo 2. various of restaurants in Cairo 3. various of goods in store 4. various of streets in Cairo STORYLINE: Egypt's year-on-year headline inflation hit a record high of 39.7 percent in August, compared to 38.2 percent in July and 15.3 percent in August 2022, data from the country's official statistics authority showed on Sunday. According to Egypt's Central Agency for Public Mobilization and Statistics, the prices of food and beverages surged by 71.9 percent, alcoholics and tobacco by 57.6 percent, restaurant and hotel services by 49.5 percent, and furniture and household appliances by 42 percent in the past 12 months. Egypt has been struggling to curb the inflation rates that have been rising over the past few years, amid local currency depreciation and foreign currency shortage. In early August, the Central Bank of Egypt (CBE)

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