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Egypt’s inflation rate slows down to lowest rate in 15 years

Egypt’s inflation rate slows down to lowest rate in 15 years
The country’s inflation rate dropped to a record 5% last year

Cairo – Mubasher: Egypt’s inflation rate dropped in 2020 to its lowest level in 15 years despite the challenges posed by the coronavirus (COVID-19) pandemic, according to a report released by the Egyptian cabinet’s media centre on Sunday.

The country’s inflation rate dropped to a record 5% last year as the government managed to curb the price increase of food items.

The average inflation rate registered 9.2% in 2019 and 14.4% in 2018, before surging to 29.5% in 2017 following the flotation of the Egyptian pound exchange rate.