Egypt's core annual inflation accelerated to 8.58 per cent in the year to November from 7.75 per cent in October, the Egyptian Central Bank said Thursday, higher than analysts' forecasts.
Core inflation strips out subsidised goods and volatile items, including fruit and vegetables. This indicator helps the Monetary Policy Committee set interest rates. The committee convenes on 16 December.
Four analysts polled by Reuters forecast core annual inflation rising to an average of 7.87 per cent in the year to November. Forecasts ranged from 7.6 per cent to 8.2 per cent.