Two Egyptian women shopping in a supermarket in Cairo, Egypt. REUTERS
The monthly core inflation eased to 1.7 percent in April 2023, down from 2.5 percent in March 2023 and down from 2.4 percent in March 2022.
Furthermore, the annual headline urban consumer inflation rate inched down to 30.6 percent in April 2023 from 32.7 percent in March.
The monthly headline urban inflation registered 1.7 percent in April 2023, down from 2.7 percent in March and down from 3.3 percent in April 2022.
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. Headline inflation includes all items in the Consumer Price Index (CPI) basket, including food and energy prices.
It is worth noting that Egypt's annual headline inflation dropped to 31.5 percent in April, down from 33.9 percent in March, according to the reading CAPMAS released on Wednesday.
Despite this drop, April’s annual headline inflation remains well above the rate seen in April 2022 (14.9 percent) according to CAPMAS readings.
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