Egypt's annual core inflation hits 8.3% in December – CBE

Egypt's annual core inflation hits 8.3% in December – CBE

Cairo – Mubasher: Egypt’s annual core inflation rose to 8.3% in December, versus 7.9% last November, data by the Central Bank (CBE) showed on Thursday.

The increase in the annual inflation rate came as a result of the impacted base period, according to a statement.

The consumer price index (CPI) recorded 0% last month, compared to 0.5% in November, the CBE added.

Earlier this day, the Central Agency for Public Mobilization and Statistics (CAPMAS) posted that Egypt’s annual inflation slashed to 11.1% in December, compared to 22.3% in the same month of 2017.

The CPI declined 4.1% month-on-month, recording 296.5 points last December, the CAPMAS said.