Egypt: Annual inflation falls in January despite monthly price increase
February 10, 2015
In January, consumer prices increased 1.0% over the previous month, which contrasted the 0.1% fall recorded in December. According to the Central Agency for Public Mobilization and Statistics, the increase was driven by higher prices in a majority of categories, including education and transport services.
Meanwhile, annual inflation fell from 10.1% in December to 9.7% in January. Annual average inflation inched down from 10.1% in December to 10.0% in January. Inflationary pressures surged last summer after the government cut energy subsidies, although the impact of these policies appears to have weakened in recent months.
Author: Carl Kelly, Economist