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Tuesday, 12 December 2017

Egypt's annual core inflation accelerates to 33% in February: CBE

Ahram Online , Thursday 9 Mar 2017
Egypt central bank (Reuters)
Egypt central bank (Reuters)
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Egypt's annual core inflation jumped to 33.10 percent in February from 30.86 percent in January, the central bank (CBE) said on Thursday.

On a monthly basis, core inflation eased to register 2.61 percent, down from 5 percent the month before, the bank said on its website.

The core consumer price index that the CBE uses to measure the level of prices – which excludes essential commodities such as fruits and vegetables – started to hit double digits in May 2016, when it reached a seven-year-high of 12.2 percent.

Egypt's annual headline inflation hit a record high of 31.7 percent in February, up from 29.6 percent in January, state statistics body CAPMAS announced earlier on Thursday.

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