Egypt Inflation March 2018

Egypt

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.

Looking ahead, inflation should continue its downward trend as the impact of past reform measures lessens, although further subsidy cuts could see price pressures briefly flare up again later this year. Last month, FocusEconomics Consensus Forecast participants expected inflation to average 14.4% in calendar year 2018 and 11.6% in calendar year 2019.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation March 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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