Last Update 6:3
Thursday, 28 January 2021

Egypt's annual urban consumer price inflation rises to 16% in September: CAPMAS

Ahram Online , Wednesday 10 Oct 2018
File Photo: A trader waits for customers at a market in Abbdien square in Cairo, Egypt (Photo: Reuters)
Views: 3825
Views: 3825

Egypt's annual urban consumer price inflation rose to 16 percent in September from 14.24 percent in August, the official statistics agency CAPMAS said on Wednesday.

Egypt has been pushing ahead with a series of austerity measures, including fuel and electricity subsidy cuts and tax hikes, to help ease the country's budget deficit.

The reforms have helped the government secure a $12 billion International Monetary Fund loan and allowed the central bank to revive its foreign currency reserves.

Egypt’s net foreign reserves rose to $44.459 billion at the end of September, from $44.42 billion a month earlier, according to the Central Bank of Egypt (CBE).

Egypt's account deficit for the 2017-18 financial year, which ended in June, narrowed by 58.6 percent to $6 billion, also according to the CBE.



Short link:



© 2010 Ahram Online.