Egypt Inflation February 2016


Egypt: Inflation drops in February

March 15, 2016

In February, consumer prices rose 1.0% over the previous month, which came in above the 0.1% increase recorded in January. According to the Central Agency for Public Mobilization and Statistics, the result was mainly driven by higher prices for food and non-alcoholic beverages as well as for housing and utilities.

Inflation fell from 10.1% in January to 9.1% in February, which marked the lowest reading in six months. According to the Central Bank, February’s fall mainly resulted from a statistical base effect. Meanwhile, annual average inflation inched down from 10.4% in January to 10.3% in February. Core inflation, which excludes volatile items such as fresh fruit and vegetables, came in at 7.5% in February, which was down from the 7.7% tallied in January.

FocusEconomics Consensus Forecast participants expect inflation to average 9.8% in calendar year 2016, which is up 0.2 percentage points from last month’s projection. For calendar year 2017, the panel sees average inflation of 10.0%.

Author: Teresa Kersting, Economist

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Egypt Inflation Chart

Egypt Inflation February 2016

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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