Egypt: Inflation declines for the tenth consecutive month in May
June 15, 2018
In May, urban consumer prices rose 0.17% from the previous month, less than April’s 1.52%. May’s increase was driven by higher prices for food such rice and poultry, although lower prices for fresh vegetables represented a drag overall.
Urban inflation continued its descent in May, slowing to 11.4% from 13.1% in April—marking the tenth consecutive slowdown and the lowest figure since April 2016. Urban core inflation decelerated to 11.1% in May from 11.6% in April. Meanwhile, annual average inflation decelerated to 22.1% in May from 23.7% in April.
Author: Edward Gardner, Economist