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.
Author: Edward Gardner, Economist