The data of the Egyptian Central Agency for Public Mobilization and Statistics showed a rise in consumer price inflation in cities last May to 13.5% on an annual basis from 13.1% in last April, which is higher Its levels since March 2019.
On a monthly basis, price inflation recorded in May 1.1%, while the Central Bank of Egypt's inflation target ranged between 5% and 7%.
The Egyptian pound fell to 18.71 against the dollar, yesterday, Wednesday, hitting its lowest level in five years, before rising again.
Egypt is suffering from a shortage of foreign currencies after the Corona virus pandemic caused the number of tourists to decline, foreign investors withdrew billions of dollars from the Egyptian bond market and the prices of imported goods rose As a result of the Ukrainian crisis.
