Egypt's annual urban consumer price inflation jumps to 12.3 pct in May
Reuters, Thursday 9 Jun 2016


Egypt's annual urban consumer price inflation jumped to 12.3 percent in May from 10.3 percent in April, the official statistics agency CAPMAS said on Thursday.

The central bank devalued the pound in March by around 13 percent, and then hiked interest rates by 150 basis points at its MPC meeting on Mach 17 to curb inflationary pressures.

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