Egypt’s annual urban consumer inflation increased to 14.4% in June after recording 11.4% in May, state-owned Al Ahram Online reports, based on figures released by the official statistics agency CAPMAS.

The increase is attributed to the decisions that have been taken by the government to increase fuel prices as well as public transportation prices like metro and taxi fares.

The increases were part of efforts to meet the terms of the USD 12 bn International Monetary Fund loan program that included cuts in energy subsidies and tax increases.

CAPMAS measures the urban consumer inflation changes by calculating price differences in more than 1,000 goods and services from 15,000 sources in eight geographical areas in Egypt.