Egypt inflation at 13.6% in January 2010

Egypt’s urban annual consumer price inflation climbed to 13.6 percent in January from 13.3 percent in December, state statistics agency figures indicated on Wednesday.

Last month’s data published on the agency’s website showed the consumer price index climbed to 143.6 from 126.4 in January 2009.

Eight analysts forecast urban inflation — the most closely watched indicator of prices — between 13.0 and 13.6 percent. The average forecast was 13.25 percent.

Prices of food and beverages, which account for more than 40 percent of the weighting of the basket Egypt uses to measure inflation, rose 24 percent from a year earlier in January, the index published by the statistics agency CAPMAS indicated.

Source: Reuters