Egypt: Inflation plunges to lowest level since October 2019 in August
September 10, 2020
Consumer prices fell 0.15% in August over the previous month, swinging from July's 0.38% rise. August's result marked the sharpest fall in prices since December 2019. Looking at the details of the release, prices for food and non-alcoholic beverages fell in August, although prices for transportation rose.
Inflation came in at 3.4% in August, below July’s 4.2%. August's figure marked the weakest inflation rate since October 2019. Accordingly, the trend pointed down, with annual average inflation coming in at 5.0% in August (July: 5.3%). Lastly, core inflation rose to 0.8% from July’s 0.7%.
Author: Stephen Vogado, Economist