The Central Agency for Public Mobilization and Statistics (CAPMAS) said that the inflation rate recorded 174.1 points in May, marking a 2.7% rise in comparison with April.

The inflation rate rose to 33.7 percent on an annual basis against 15.3 in the same month last year.

The most important reasons behind this uptick in the inflation rate on an annual basis is the increase of the prices of fruits by 15.6%, meat and poultry by 87.9%, oils by 5.9%, vegetables by 26.7%, grains and bread by 65.2% and dairy products and milk by 67.7%, CAPMAS said in its monthly statement on the prices for consumers in the local market.