Egypt revises up July annual inflation to 11.04 per cent

Egypt revised up its annual consumer price inflation rate to 11.04 per cent for July from an earlier figure of 10.61 per cent, the statistics agency said on Monday, after the government cut subsidies on fuel. It revised up monthly inflation to 3.51 per cent from the figure of 3.11 per cent published previously. Egypt's annual core consumer price inflation rate, which strips out subsidised goods and volatile items such fruit and vegetables, was also adjusted higher to 9.57 per cent from 9.35 per cent, the Central Agency for Public Mobilization and Statistics (CAPMAS) said. CAPMAS did not give a reason for the revision, according to standardmedia.com