Egypt’s core inflation falls to 30.53% in October - CBE

Egypt’s core inflation falls to 30.53% in October - CBE
Egypt’s core inflation falls to 30.53% in October

Cairo – Mubasher: Egypt’s annual core inflation rate dropped to 30.53% in October 2017 from 33.26% in September 2017, the Central Bank of Egypt (CBE) said in a statement on Thursday.

The monthly core inflation rate recorded 0.7% in October, versus 0.19% in September, the CBE added.

The International Monetary Fund’s (IMF) World Economic Outlook report expected Egypt’s average consumer price index (CPI) for fiscal year 2017/2018 to fall to 21.3%.

The Central Agency for Public Mobilization and Statistics (CAPMAS) posted earlier this morning that Egypt’s annual inflation rate rose to 31.8% year-on-year in October 2017.

Egypt’s Minister of Finance Amr El-Garhy forecasted inflation rates to decrease in November and December.

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Source: Mubasher

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