Aug 09 2012
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Egypt Urban Inflation Eases to 6.4% in July Vs 7.3% in June 2012
Thursday, Aug 09, 2012
CAIRO (Zawya Dow Jones)--Egypt's urban inflation rate, the most closely watched indicator of prices, dropped to 6.4% in July, from 7.3% in June, as the price of commodities fell, data from the country's statistics agency showed Tuesday.
The cost of food and beverage, which accounts for the biggest slice of the consumer price index and has the largest impact on the inflation rate, stood at 8.1% in July compared with 9.3% in June, according to data published on the Central Agency for Public Mobilization and Statistics website.
The central bank left its key interest rate unchanged for the fifth consecutive meeting last month.
-By Farah Halime; Contributing to Dow Jones Newswires; +20111 4994453
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