Egypt revises up July annual inflation to 11.04 per cent

Egypt revised up its annual consumer price inflation rate to 11.04 percent for July from an earlier figure of 10.61 percent, the statistics agency said on Monday, after the government cut subsidies on fuel. It revised up monthly inflation to 3.51 percent from the figure of 3.11 percent published previously.

Egypt's annual core consumer price inflation rate, which strips out subsidised goods and volatile items such fruit and vegetables, was also adjusted higher to 9.57 percent from 9.35 percent, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.