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Egypt's annual core inflation accelerates to 33% in February: CBE

Ahram Online , Thursday 9 Mar 2017
Egypt central bank (Reuters)
Egypt central bank (Reuters)

Egypt's annual core inflation jumped to 33.10 percent in February from 30.86 percent in January, the central bank (CBE) said on Thursday.

On a monthly basis, core inflation eased to register 2.61 percent, down from 5 percent the month before, the bank said on its website.

The core consumer price index that the CBE uses to measure the level of prices – which excludes essential commodities such as fruits and vegetables – started to hit double digits in May 2016, when it reached a seven-year-high of 12.2 percent.

Egypt's annual headline inflation hit a record high of 31.7 percent in February, up from 29.6 percent in January, state statistics body CAPMAS announced earlier on Thursday.

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