Egypt's urban consumer inflation accelerated in October, driven by higher consumer spending on food and transportation, the state CAPMAS statistics agency reported on Sunday. CAPMAS said inflation rose to an annual 10.4 percent in October from 10.1 percent in September.
Egyptian inflation has been pushed up this year by a weaker Egyptian pound, though the currency has steadily appreciated against the dollar since the army deposed elected Islamist President Mohamed Morsi on July 3.
"This is a big rise for inflation within one month," CAPMAS head Abu Bakr al-Gindy told Reuters. "According to our statistics there was an obvious increase in the prices of meat, other food products and transportation."
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