Egypt Inflation July 2020

Egypt

Egypt: Inflation drops to lowest level since November 2019 in July

August 10, 2020

Consumer prices increased 0.38% in July over the previous month, coming in below the 0.08% increase logged in June. The figure was largely due to a softer decrease in prices for food and non-alcoholic beverages.

Inflation dropped to 4.2% in July, below June’s 5.6% reading and moving further away from the Central Bank’s target range of 6.0%–12.0%. July's reading marked the weakest inflation rate since November 2019. Annual average inflation fell to 5.3% in July (June: 5.7%). Lastly, core inflation fell to 0.7% from June’s 1.0%.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.9% in CY 2020, which is unchanged from last month’s forecast, and 7.3% in CY 2021.


Author:, Economist

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Egypt Inflation July 20 20

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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