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The News International: Egypt’s consumer price inflation reaches 31.5pc

Inflation hit a three-decade high in April, adding pressure on the government to lower prices before Ramadan.
11.05.17 | Interesting article at The News International

Egypt´s annual urban consumer-price inflation hit a three-decade high in April, adding pressure on the government to lower prices before the holy month of Ramadan begins at the end of the month.

Food demand usually grows during Ramadan because of heavy consumption following the dawn-to-dusk fasting. Ramadan begins on May 27.Annual urban inflation rose in April to 31.5 percent from 30.9 percent in March, the official statistics agency, CAPMAS, said on Wednesday.

The figures are the highest since June 30, 1986, when it reached 35.1 percent, according to Reuters data. President Abdel Fattah al-Sisi is under increasing pressure to revive the economy, keep prices under control and create jobs to avoid a backlash from the public.