CAIRO: The inflation rate in Egypt fell during November 2010, marking the largest monthly decline since the beginning of the year, according to the Central Agency for Public Mobilization and Statistics. The Agency on Thursday attributed the decline to the decrease of vegetable prices. The Agency explained that the record of the total price in Egypt amounted to 110.6 points, a decline of 1% per month compared to its level in the month of October. As for the annual index, the inflation rate recorded 10.2% during the month of November compared to 11.4% in the same month in 2009. Abu Bakr El Gendy, head of the Agency, explained this decline in inflation as due to the decline in prices for vegetables, food, and beverages. Two months ago, prices of vegetables in Egypt spiked. Tomatoes in particular reached 10 EGP (about USD $2) per kilo. The average monthly inflation in the countryside scored 1.2% compared with 0.8% in urban areas. BM
