Egypt Inflation

Egypt

Egypt: Annual inflation picks up in December despite monthly price drop

January 8, 2015

In December, consumer prices decreased 0.1% over the previous month, which was up from the 1.5% fall recorded in November. According to the Central Agency for Public Mobilization and Statistics, a drop in the price of clothing and footwear led the monthly decrease. Inflationary pressures had increased during the summer months after the government raised fuel prices and introduced new taxes, but the impact of these policies appears to be fading.

Meanwhile, annual inflation picked up from 9.1% in November to 10.1% in December. In the full year 2014, inflation averaged 10.1%, which was up from the 9.5% registered in 2013.

FocusEconomics Consensus Forecast participants expect inflation to be average 11.2% in calendar year 2015, which is up 0.4 percentage points over last month’s projection. For calendar year 2016, the panel sees average inflation decreasing to 9.9%.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation December 2014 0

Note: Year-on-year and month-on-month variation of urban consumer price index in %.
Source: Central Agency for Public Mobilization and Statistics (CAPMAS).


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