Egypt Inflation December 2019

Egypt

Egypt: Inflation jumps in December

January 9, 2020

Consumer prices decreased 0.2% in December in month-on-month terms, after decreasing 0.3% in November. Core consumer prices, which do not include volatile prices such as food prices, increased 0.2% in December compared to the previous month, contrasting November’s 0.1% decrease.

Inflation accelerated to 7.1% in December from 3.6% in November, partly reflecting a low base effect and in line with the Central Bank of Egypt’s expectations. This reading represented a four-month high and resulted in inflation coming back within the Central Bank’s Q4 CY 2020 target range of 6.0% to 12.0%.

Core inflation, meanwhile, accelerated to 2.4% in December from 2.1% in November. Annual average inflation decelerated to 9.2% in December from 9.6% in November.

FocusEconomics Consensus Forecast panelists expect inflation to average 8.0% in CY 2020, which is down 0.4 percentage points from last month’s forecast, and 8.0% again in CY 2021.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation December 2019 1

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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