Egypt's annual core inflation hits 8.5% in August – CBE

Cairo – Mubasher: Egypt’s annual core inflation rose to 8.8% month-on-month in August from 8.5%.

The monthly core inflation edged up 0.6% last month, versus the same rate in July, the Central Bank of Egypt (CBE) said in a statement on Monday.

Earlier this day, the Central Agency for Public Mobilization and Statistics (CAPMAS) posted that the North African nation’s annual inflation fell to 13.6% year-on-year in August from 33.2%.

The consumer price index (CPI) increased 1.7% month-on-month, recording 294.9 points last month, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Thursday.

It is worth noting that National Bank of Kuwait (NBK) projected inflation rate in Egypt to reach 10% in fiscal year 2018/2019.

Mubasher Contribution Time: 10-Sep-2018 13:50 (GMT)
Mubasher Last Update Time: 10-Sep-2018 14:07 (GMT)

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