Egypt Inflation

Egypt

Egypt: Inflation eases but remains high in June

July 11, 2015

In June, consumer prices decreased 0.7% over the previous month, which contrasted the 1.2% rise recorded in May. According to the Central Agency for Public Mobilization and Statistics, the decrease was mainly driven by lower prices for food and non-alcoholic beverages.

Inflation eased from 13.1% in May to 11.4% in June. The lower result comes as welcome news for households, although prices have not yet returned to levels seen before the government cut energy subsidies in October of last year. Moreover, annual average inflation increased from 10.7% in May to 11.0% in June. Core consumer prices, which exclude volatile items such as fresh fruit and vegetables, rose 8.1% over the same month last year, which matched the result seen in the previous month.

FocusEconomics Consensus Forecast participants expect inflation to average 10.0% in calendar year 2015, which is down 0.2 percentage points from last month’s projection. For calendar year 2016, the panel sees average inflation decreasing to 9.3%.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation June 2015

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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