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.
Author: Carl Kelly, Economist