Egypt’s annual core inflation reaches 8.6% in January: CBE
In December, the core inflation increased to 8.3 percent from 7.94 percent in November.
CBE added that the monthly rate of core inflation hit 0.4 percent in January compared to 0 percent in December.
Core inflation discounts or strips out certain categories that are considered more volatile.
The Central Agency for Public Mobilization and Statistics (CAPMAS) announced earlier on Sunday that Egypt’s annual consumer price inflation declined to 12.2 percent in January 2019, compared to 17 percent in January 2018.
CAIRO - 10 February 2019: Egypt's annual consumer price inflation declined to 12.2 percent in January 2019, compared to 17 percent in January 2018, state-statistics body said Sunday, Feb. 10. In December, Egypt's annual consumer price inflation recorded 11.1 percent, compared to 22.3 percent in the same month of 2017.
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.