Egypt's core inflation rate increased to 13.23 percent year on year in August 2016 up from 12.31 in July 2016, the central bank announced on Thursday.
In March, Egypt, which relies heavily on imports of wheat and other staples to feed its population of 91 million, devalued the Egyptian pound by 14 percent of its value against the dollar in an attempt to eliminate the black market, a move that led to price increases.
The annual urban consumer price inflation jumped to 12.3 percent in May 2016 from 10.3 percent in April, the state statistics body CAPMAS announced in June.
The CBE raised interest rates by 100 basis points in June in an attempt to curb accelerating inflation.
