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Egypt's annual inflation rises to 10.7 in Feb
A man counts his bills at a foreign exchange office in downtown Cairo June 5, 2014. REUTERS/Amr Abdallah Dalsh
CAIRO, Mar 10 (Aswat Masriya) - Egypt's annual inflation rate rose by 1.3 percent in February, to become 10.7 percent, announced the state's Central Agency for Public Mobilisation and Statistics (CAPMAS) on Tuesday.
The annual inflation stood at 9.4 in January, CAPMAS reported.
The urban consumer inflation also rose to 10.6 percent this month, after being 9.7 percent in January.
As for the core inflation, it rose by 1.10 percent in February, as opposed to a 0.52 percent monthly increase in January, Egypt's central bank said on Tuesday.
"The annual rate inched up to 7.15 percent in February down from 7.06 percent in January," the bank said in a press release.
Inflation increased last summer after the government reduced petroleum subsidies and introduced new taxes in July 2014, hiking fuel prices by up to 78 percent. The inflation rate peaked last October, standing at 11.8 percent.
