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Butane Crisis Drives Up Egypt's Inflation in February

Source: Ahram Online 3/10/2012, Location: Africa

Egypt's annual headline inflation rose a monthly 0.7 per cent in February 2012 to reach 122.1 points, fuelling a year-on-year climb of 10 per cent, Egypt's state statistics agency (CAPMAS) showed. Figures from CAPMAS stated that inflation is being fuelled by broad climbs in consumer prices. These include hikes in natural gas and butane (up 12.4 per cent), poultry (up 8.4 per cent), tomato (up 5.1 per cent) and eggs (up 4.5 per cent).

Headline inflation calculates an average between urban and rural differences. Egypt's urban consumer inflation climbed to 10.9 per cent in the 12 months to February from 8.57 per cent in January,. The urban consumer price index for February was 121.1 versus 110.9 a year earlier, according to the CAPMAS agency. Meanwhile, rural consumer price inflation was also rose by 0.8 per cent from January reaching 12.2 per cent in February.

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