CAIRO – 9 May 2019: The Central Bank of Egypt (CBE) stated that Egypt’s annual core inflation rate decreased to 8.1 percent in April 2019, from 8.9 percent in March 2019, according to a report.
Core inflation discounts or strips out certain categories that are considered more volatile.
Earlier, The Central Agency for Public Mobilization and Statistics (CAPMAS) announed that Egypt’s annual consumer price inflation fell to 12.5 percent in April 2019, compared to 12.9 percent in April 2018.
On a monthly basis, inflation increased 0.4 percent in April, recording 308.1 points, compared to 307 points in March, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
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.