Inflation drops to lowest rate in seven years

Inflation drops to lowest rate in seven years

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Mon, 10/12/2012 - 17:05

The annual inflation rate decreased in November by 4.1 percent as compared to the same month last year, the Central Agency for Public Mobilization and Statistics (CAPMAS) said on Monday.

This is the lowest rate of inflation the country has seen since March 2006.

Inflation has fallen by 1.5 percent since October .

The CAPMAS report attributed November’s decline in part to a 2.12 percent decrease in vegetable prices.

The report also pointed to natural gas prices falling by 1.14 percent due to an increase in the supply of butane cylinders. Egg production also increased, leading to a 2.5 percent decrease in prices, while the price of poultry fell by 5.1 percent and fish by 2.2 percent.