Egypt's annual core inflation at 40.4 percent in August

Ahram Online , Sunday 10 Sep 2023

Egypt's annual core inflation rate has decreased slightly, recording 40.4 percent in August, down from 40.7 percent in July, according to the data released by the Central Bank of Egypt (CBE) on Sunday.

Egypt s annual core inflation
Egypt's annual core inflation rate has decreased slightly, recording 40.4 percent in August, down from 40.7 percent in July, according to the data released by the Central Bank of Egypt

 

The monthly core inflation rate declined by 0.3 percent in August compared to 1.3 percent in July 2023 and 0.6 percent in August of the previous year.

On the other hand, the annual headline urban consumer inflation rate reached 37.4 percent in August, up from 36.5 percent a month earlier. Meanwhile, the monthly headline urban inflation rate decreased by 1.6 percent in August, down from 1.9 percent in July.

Urban headline inflation measures the rate of price increase of goods and services typically consumed by urban households, while core inflation excludes volatile items such as food and energy prices.

CAPMAS stated on Sunday that Egypt's headline annual inflation rate skyrocketed to 39.7 percent in August (the highest inflation rate ever recorded), up from 38.2 percent a month earlier.

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