Inflation rises two percent y-o-y

Food prices went up six percent,
alcohol and tobacco up by 11 percent

The inflation rate rose an estimated two percent year-on-year as off end June, according to the Consumer Price Index (CPI), which is published by the Central Administration of Statistics (CAS). The CPI measures and tracks the fluctuation in the prices of a basket of goods overtime.

The price of food and non-alcoholic beverages, which makes up 20 percent of the index, was the main inflation driver increasing by almost six percent year-on-year. Prices of alcoholic beverages and tobacco, two percent of the index, rose by 11 percent. The cost of education, which makes up for almost eight percent of the index, increased by 7.5 percent.

These increases were partially offset by a four percent drop in the price of water, electricity, and fuel, which makes up nine percent of the index, as well as a one percent drop in each of the cost of transportation (12 percent of the index), and the cost of healthcare (6.8 percent of the index).

Reported by Hanadi Chami