Egypt Inflation July 2018

Egypt

Egypt: Inflation decelerates in July

August 9, 2018

In July, urban consumer prices rose 2.43% from the previous month, less than June’s 3.48% increase. July’s increase was driven by more expensive fresh fruit and vegetables, particularly potatoes. Moreover, higher prices for regulated items, particularly electricity, tobacco and government services, contributed to increased consumer prices in July compared to June.

Urban inflation decelerated to 13.5% in July from 14.4% in June. Urban core inflation decelerated to 8.5% in July from 10.9% in June, partly due to a high base effect. Meanwhile, annual average inflation decelerated to 19.3% in July from 20.9% in June.

Looking ahead, inflation should continue its downward trend as the impact of recent reform measures reduces. FocusEconomics Consensus Forecast participants expect inflation to average 14.3% in calendar year 2018, which is up 0.2 percentage points from last month, and 12.3% in calendar year 2019.


Author:, Economist

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Egypt Inflation July 2018 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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