Thursday, May 08, 2008
CAIRO (Zawya Dow Jones)--Egypt's inflation rose to 16.4% in the year to April, state-owned statistics agency Capmas said Thursday.
The figure is a 2% rise over the 14.4% recorded in March, according to the agency's Web site.
The government introduced a package Monday to fund a 30% hike in government wages which included a rise in diesel, gasoline and cigarette prices, which could in turn increase inflation.
The Central Bank of EgyptCentral Bank of Egypt
said in March inflation was mainly driven by a rise in food prices.
The bank's monetary policy committee is set to meet late Thursday and a decision about interest rates will be announced Friday.
The bank raised interest rates by 50 basis points when it last met March 23.
-By Maha El Dahan, contributing to Dow Jones Newswires, +20 1 22267850, mahaeldahan@yahoo.com
Copyright (c) 2008 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
08-05-08 1258GMT
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