Egypt Inflation May 2018

Egypt

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.

Looking ahead, inflation should continue its downward trend this year as the impact of past reform measures lessens, although further subsidy cuts could see price pressures flare up again. FocusEconomics Consensus Forecast participants, surveyed over the past month, expect 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 May 2018

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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