Egypt's monthly inflation up 2.7 pct in May, annual rate up 33.7 pct

CAIRO, June 10 (KUNA) -- The general record number of inflation rate in Egypt rose 2.7 percent last May on a monthly basis and 33.7 percent on an annual basis, according to official statistics.

The monthly rise in inflation rate was caused by the hike in food and beverage prices by 3.5 percent, health care by one percent, transportation by four percent, culture and entertainment by 2.1 percent, restaurants and hotels by 3.7 percent and multiple services by 2.7 percent, said the Central Agency for Public Mobilization and Statistics in a statement on Saturday.
Meanwhile, the agency noted that the rise in inflation on an annual basis, compared to May 2022, is due to the increase in food and beverage departments by 58.9 percent, furniture, home equipment and maintenance by 38.8 percent, clothing and footwear by 22.2 percent and residences, water, electricity, gas and fuel by 6.4 percent.
Moreover, health care departments increased by 18 percent, transportation by 25.1 percent, wired and wireless telecommunications by 1.3 percent, culture and entertainment by 27.3 percent, education by 7.7 percent, restaurants and hotels by 48.8 percent and multiple services by 29.8 percent, it added. (end) asm.ag.