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.
Author: Carl Kelly, Economist