CAIRO (Reuters) - Urban consumer inflation in Egypt eased to 10.0 percent in the year to June, from 10.2 percent in May, broadly in line with analyst expectations, government figures showed on Thursday. The urban inflation index for June 2009 was 133.6 compared to 121.5 a year earlier, the state statistics agency CAPMAS said on its website, indicating a rise of 10.0 percent. Beltone Financial senior economist Reham ElDesoki said the figure was expected. Beltone had forecast a range of 9.5 to 10.0 percent but said the latter was more likely. "We had expected inflationary pressures would continue to sustain a rise in monthly inflation, in the lead up to the summer months, Ramadan and religious holidays, as inflation usually rises in the second half of the year," she wrote. Two other forecasts had predicted a rate of 9.9 percent. "We will be watching for signs that recent food prices increases have spilt over to non-food prices," Simon Kitchen, economist at investment bank EFG-Hermes, said ahead of the announcement. CI Capital had said they had raised their forecast to 9.9 percent from 9.7 percent "against the backdrop of a continuous rise in oil prices". |