Data from the Central Bank showed that core inflation in Egypt rose to 35.1% on an annual basis in February from 29% in January.
Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) showed on Sunday that annual consumer price index in Egyptian cities jumped to 35.7% in February from 29.8% in January, driven mainly by the rise in food and beverage prices.
The increase in inflation comes ahead of an expected rise as a result of last week's currency devaluation. On Wednesday, the Central Bank allowed the Egyptian pound to fall to about 50 pounds to the dollar from 30.85 pounds, a level at which it had been stable over the past 12 months.
On a monthly basis, prices rose 11.4% in February, compared to only 1.6% in January. Food prices jumped 15.9%, compared to 1.4% in January.
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