CAIRO – 10 March 2019: The Central Bank of Egypt (CBE) said that Egypt’s annual core inflation rate rose to 9.2 percent in February 2019, from 8.6 percent in January 2019, according to a report.
In January, the core inflation increased to 8.6 percent from 8.3 percent in December.
Core inflation discounts or strips out certain categories that are considered more volatile.
CBE added that the monthly rate of core inflation hit 1 percent in February compared to 0.4 percent in January.
The Central Agency for Public Mobilization and Statistics (CAPMAS) announced earlier on Sunday that Egypt’s annual consumer price inflation fell to 13.9 percent in February 2019, compared to 14.3 percent in February 2018.
Egypt’s annual inflation records 13.9% in February
CAIRO – 10 March 2019: Egypt’s annual consumer price inflation fell to 13.9 percent in February 2019, compared to 14.3 percent in February 2018, state-statistics body said Sunday, March 10. In January, Egypt’s annual consumer price inflation recorded 12.2 percent, compared to 17 percent in the same month of 2018.
Inflation surged in Egypt since the floatation of the Egyptian pound in November 2016, reaching a record high level in July due to energy subsidy cuts that have been gradually easing since July.
Egypt targets an inflation rate of 13 percent in its fiscal year 2018/2019 budget.