Egypt inflation hits 11-month high

Urban consumer inflation in Egypt accelerated in the year to March to an 11-month high, pushed up by soaring food prices that contributed to the mass protests that eventually toppled president Hosni Mubarak. Urban consumer inflation in Egypt rose to 11.5 per cent in the 12 months to March, its highest level since April 2010, up from 10.7 per cent in February. On a monthly basis, it increased to 1.4 per cent in March from 0.1 per cent in February. Several economists had expected an increase in the rate - the most closely watched indicator of prices - as a result of a weaker pound and imported inflation.