The annual inflation rate has registered a record high since 2008 on the back of the flotation of the Egyptian pound, according to the Central Agency for Public Mobilization and Statistics' (CAPMAS) monthly bulletin on inflation. According to CAPMAS indicators, inflation hit 19.4% in November, up from 13.6% in October. The report noted that livestock and poultry prices rose by 4.2%; cereals and bread by 6.7%; vegetables by 3.3%; dairy, cheese and eggs by 6.6%; oils and fats by 8.5%; and sugar by 14.5%. Clothing and footwear prices rose by 11.0%; transport by 12.6%; cigarettes and tobacco by 8.6%; healthcare by 5.5%; furniture and household equipment by 7.9%; housing, water, electricity, gas and fuel by 3.5%. The annual inflation rate marked a 20.2% increase in November compared to November 2015. The marked increase, according to CAPMAS, is due to the implications and effects of floating the pound and raising fuel prices. Miscellaneous goods and services were up by 25.2%, which contributed 0.56% to the annual growth rate, especially as personal care prices went up by 23.1% and gold by 80.7%.
