Egypt: Inflation accelerates in June
July 9, 2020
Consumer prices increased 0.08% in June over the last month, contrasting the 0.02% drop logged in May. Looking at the details of the release, medical care prices rose at a quicker pace in June compared to the previous month, while prices for transportation rose at a slower pace.
Inflation increased to 5.6% in June, above May’s 4.7% and coming closer to the Central Bank’s Q4 CY 2020 target range of 6.0%–12.0%. Annual average inflation fell to 5.7% in June (May: 6.0%). Core inflation fell to 1.0% from May’s 1.6%.
Author: Edward Gardner, Economist