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Egypt inflation drops to 10.4 per cent in July Inflation reached 10.4 per cent in the year to July 2011, a drop from June's figure of 11.8 per cent, mainly due to a fall in food prices
Annual urban consumer inflation reached 10.4 per cent in the 12 months to July 2011, a significant drop from June's figure of 11.8 per cent, according to a release by Egypt's official statistics body on Wednesday. The slowing rise was driven by a fall in almost all components of the Consumer Price Index (CPI),but was led by an annual drop in food price inflation. On a monthly basis, however, urban inflation increased 1.2 per cent from June 2011.