Egypt: Inflation slows in February
Consumer prices were unchanged in February compared to the previous month, after rising 0.7% in January. February’s subdued reading was partly due to lower prices for fruit and vegetables.
Inflation decelerated to 5.3% in February from 7.2% in January, falling below the lower-half of the Central Bank’s Q4 CY 2020 target range of 6.0%–12.0%. Annual average inflation slowed to 8.0% from 8.7% in January.
Core consumer prices—which do not include volatile prices such as food prices—increased 0.2% in February from the previous month, down from the 0.7% increase in January. Core inflation, meanwhile, slowed to 1.9% in February from 2.7% in January.