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Egypt’s inflation slides to 13.6% in August – CAPMAS

Egypt’s inflation slides to 13.6% in August – CAPMAS
Egypt’s inflation slides to 13.6% in August

Cairo – Mubasher: Egypt’s annual inflation fell to 13.6% year-on-year in August from 33.2%.

The consumer price index (CPI) increased 1.7% month-on-month, recording 294.9 points last month, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Thursday.

It is worth noting that National Bank of Kuwait (NBK) projected inflation rate in Egypt to reach 10% in fiscal year 2018/2019.

In August, the CAPMAS said that Egypt’s annual inflation slumped to 13% in July, from 34.2% in the same month a year earlier.