Egypt: Inflation declines for eighth consecutive month in March
April 10, 2018
In March, urban consumer prices rose 0.99% from the previous month, accelerating from February’s 0.29% increase. March’s increase was driven by higher prices for food and non-alcoholic beverages.
Urban inflation continued its descent in March, slowing to 13.3% from 14.4% in February—marking the eighth consecutive slowdown and the lowest figure since May 2016. Urban core inflation also moderated, falling to 11.6% from 11.9% in the prior month. Both inflation indicators were affected by favorable base effects and tight monetary conditions. Meanwhile, annual average inflation decelerated to 25.3% in March from 26.9% in February.
Author: Edward Gardner, Economist