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Inflation in Egypt rose to 33% per year

Central statistical Agency of Egypt said that in July 2017, the inflation rate reached 33%. This is the highest rate since 1986, when inflation was 36%.

The main reason for growth was 50-percent increase in fuel prices for the second time since the beginning of the year. Rose also electricity and water supply.

Inflation in Egypt began to grow rapidly after signing the agreement with the International monetary Fund in November 2016. The IMF gave Cairo a loan of $ 12 billion.

Terms of its provision was austerity and the deregulation of the exchange rate. As a result, in November 2016, the pound lost half its value.

Inflation in Egypt rose to 33% per year 10.08.2017

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