Egypt's annual core inflation rate declines by 1.7 percent in December

Ahram Online , Wednesday 10 Jan 2024

Egypt's annual core inflation rate decelerated by 1.7 percent in December to 34.2 percent, down from 35.9 percent in November, according to the data released by the Central Bank of Egypt (CBE) on Wednesday.

Central Bank of Egypt. Ahram Gate.
Central Bank of Egypt. Ahram Gate.

 

The report added that the monthly core inflation rate rose to 1.3 percent in December 2023 from one percent in November.

The annual headline urban consumer inflation rate reached 33.7 percent in December, down from 34.6 percent in November. Meanwhile, the monthly headline urban inflation rate inched higher to 1.4 percent in December, down from 1.3 percent in November.

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.

Egypt’s annual headline inflation decelerated to 35.2 percent in December, down from 36.4 percent a month prior, according to data by the Central Agency for Public Mobilization and Statistics (CAPMAS).

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