Egypt's inflation slows to 9.1% in November

Ahram Online , Wednesday 10 Dec 2014

Urban inflation down in November after significant spike during September and October

Inflation
Egypt has seen a spike in inflation since state-subsidy cuts were introduced in July (Photo:AP)

Egypt's annual urban inflation rate slowed to 9.1 percent in November, down from 11.8 percent the previous month, state statistical body CAPMAS announced on Wednesday.

"Headline inflation was exceptionally high in September and October due to a significant hike in education [costs]," Eman Negm, economist at Prime Holding, told Ahram Online.

Egypt's inflation soared in the summer following cuts in fuel subsidies in July, raising prices by up to 78 percent.

However, prices have been "stabilising" in the past few months due to falling price levels internationally and falling oil prices, said Negm.

 
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