According to data from the Central Agency for Public Mobilization and Statistics in Egypt, today, Thursday, the annual inflation of consumer prices in Egyptian cities jumped to 14.6% during the month of August, up from 13.6% in the previous July.
Egyptian cities are witnessing a strong acceleration in the rise of inflation, as economists expected that this rising wave will continue, driven by the rise in the prices of gasoline, diesel and the dollar, after which the requirements of the International Monetary Fund may be applied to increase the prices of some goods and services, which may lead to core inflation reaching 20% by the end of the year .
Last July, the Egyptian government raised the price of diesel by 50 piasters for the first time since October 2019 to reach 7.25 pounds per liter.
Moving the prices of petroleum products contributes to the rise in the inflation rate, as it raised the cost of individual transportation and private mass transportation for citizens, and the increase in the price of diesel contributed to the cost of transportation of products at the level of the Republic.
