Egypt Inflation February 2018

Egypt

Egypt: Inflation declines for seventh consecutive month in February

March 8, 2018

In February, urban consumer prices rose 0.29% from the previous month, contrasting January’s 0.06% decline. February’s increase was driven by higher prices for food and non-alcoholic beverages—particularly poultry and rice--which were partially offset by seasonally lower prices for clothing and footwear.

Urban inflation continued to drop sharply, falling from 17.1% in January to 14.4% in February, marking the seventh consecutive decrease and the lowest figure since October 2016. Core urban inflation moved in lockstep, falling to 11.9% from 14.4% in the prior month, with both indicators affected by favorable base effects and tight monetary conditions. Meanwhile, annual average inflation fell from 28.4% in January to 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. Last month, FocusEconomics Consensus Forecast participants expected inflation to average 15.1% in calendar year 2018 and 12.0% in calendar year 2019. A new Forecast taking the latest monetary developments into account will be released on 10 April.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation February 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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