Egypt: Inflation slows in May, falling further below Central Bank target range
Consumer prices were broadly unchanged in May compared to the previous month, after increasing 1.3% in April. May’s balanced reading was due to lower prices for food items compensating price rises for non-food items.
Inflation decelerated to 4.7% in May from 5.9% in April, falling further below the Central Bank’s Q4 CY 2020 target range of 6.0%–12.0%. Annual average inflation slowed to 6.0% in May from 6.7% in April.