Egypt Inflation

Egypt

Egypt: Inflation recedes in November

December 11, 2014

In November, consumer prices decreased 1.6% over the previous month, which contrasted October’s 1.7% increase and marked the largest decline on record. According to the Central Agency for Public Mobilization and Statistics, the figure reflected slower price increases in almost all categories of the index. Inflationary pressures had increased during the summer months after the government raised fuel prices and introduced new taxes, but the impact of these policies appears to be fading.

Annual inflation receded from 11.8% in October to 9.1% in November, which marked the lowest level in five months. Annual average inflation decreased from 10.5% in October to 10.2% in November, which represented a four-month low. Core inflation, which excludes volatile items such as energy and food, declined from 8.5% in October to 7.8% in November.

FocusEconomics Consensus Forecast participants expect inflation to be average 10.3% in calendar year 2014, which is up 0.1 percentage points over last month’s projection. For calendar year 2015, the panel sees average inflation rising to 10.8%.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation November 2014

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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