sharon sanders
Editor-in-Chief & President
?Statistics?: Rising meat prices in December increased by 28.7%, sugar 16.3%Central Agency for Public Mobilization and Statistics, increase the rate of inflation during the month of December last year, reaching 10.3%, compared to 10.2% during the month of November the former.
He attributed the device in a statement Monday, the high rate of inflation to increase prices of many goods and services, in the forefront of food and drink, which rose to 16% in the total governorates of Egypt.
He pointed out that the increase in the prices of meat and poultry amounted to about 28.7%, cereals 21.5%, bread, sugar and sugary foods 16.3%, vegetables 11%, milk, cheese, eggs, fruit 8.8% and 4.9%.
He pointed out that the price increases also included the departments of education, and smoke, restaurants, hotels, special item ready meals.
For his part, Dr Samir Radwan, Advisor to the General Authority for Investment and a member of the People's Assembly, that an increase in food prices is the main engine to increase the rate of inflation, pointing out that the provision of food and drink consumed the bulk of the budget of families.
Radwan and predicted in a statement ?Egyptian today?, a new wave of high food prices worldwide, including oil, margarine and sugar, which leads to increase the rate of inflation locally, adding to the adoption of a large part of domestic consumption on imports.
On the possibility of the central bank to increase interest rates in the face of rising inflation, "Radwan said? It is difficult to predict this trend now ?, pointing out that the Central Bank's determination to maintain the fixed interest rates over the past months was the lack of justification for the increase.
He called for tightening the control mechanisms of markets in the coming period, and the expansion of agricultural production.
The Organization of the United Nations Food Organization (FAO) has indicated in a report last week, recording the prices of food to a record level last December, exceeding the 2008 levels, which saw the outbreak of riots in several countries.
In a related development, confirmed Magda Kandil, Executive Director of the Egyptian Centre for Policy Studies, that the rate of inflation prevailing in Egypt, one of the highest rates among Egypt's trade partners, which negatively affects the competitiveness of exports and domestic production in the foreign market.http://www.almasryalyoum.com/news/«الإحصاء»-ارتفاع-أسعار-اللحوم-في-ديسمبر-بنسبة-287-والسكر-163