Egypt: Annual inflation recedes in April
May 11, 2015
In April, consumer prices increased 0.1% over the previous month, which was well below the 1.5% rise recorded in March. According to the Central Agency for Public Mobilization and Statistics, the increase was mainly driven by higher prices for tobacco, education, and transport. Prices in most other categories increased, although at a slower rate compared to the previous month.
Annual inflation decreased from 11.5% in March to 11.0% in April. Despite the moderation, inflation has remained stubbornly-high since the government cut energy subsidies in October of last year. Annual average inflation inched up from 10.2% in March to 10.3% in April.
Author: Carl Kelly, Economist