CAIRO: Inflation rose .25 percent in April, compared to a .7 percent increase in March, the Central Bank of Egypt announced Saturday.
“The high rate of domestic liquidity of cash and deposits along with the lack of productions were major reasons for the increased inflation,” Dr. Ahmed Roshdy, Former Head of the National Bank of Egypt, told The Cairo Post.
Due to the poor economy caused by an absence of security, scarcity of new investments and decline in production, the rate of inflation is “natural” especially since it is the lowest increasein five months, he said.
Roshdy said he expected inflation would increase until a new president were elected.The Consumer Price Index of the Central Agency for Public Mobilization and Statistics (CAPMAS)reported the annual rate of inflation decreased to 8.87 percent in April from 9.82 percent in March.
The report signaled that the price of food and beverages increased by 0.7percent in April compared to 1.3 percent in March along with the large increase at vegetable prices by 5.1percent, Wadi Masr News Gate reported.