Egypt: Inflation ticks up in January
In January consumer prices rose 0.6% compared to the previous month, contrasting the 3.4% decrease in December. This most recent outturn was partly due to an increase in prices for fruits and vegetables.
Inflation accelerated to 12.7% in January from 12.0% in December and fell out of the Central Bank of Egypt’s Q4 2020 target range of 9.0% plus or minus three percentage points. Core inflation ticked up to 8.6% in January from 8.3% in December. Meanwhile, annual average inflation slowed to 14.1% in January from 14.4% in December.