Egypt Inflation September 2019

Egypt

Egypt: Inflation slows to a near seven-year low in September

October 10, 2019

Consumer price growth in month-on-month terms was flat in September, down from 0.7% in August. The slowdown was partly due to a decrease in prices for food and beverages, contrasting an increase in these prices in August. On the other hand, prices for transportation increased at a much sharper pace in September.

Inflation decelerated to 4.5% in September, down from 7.5% in August and dropping further below the 9.0% midpoint of the Central Bank’s Q4 CY 2020 target range of 6.0% to 12.0%. This result marked the lowest reading since December 2012 and was driven by a moderated increase in food and beverage prices.

Core inflation, which excludes energy prices, slowed to 2.6% in September from 4.9% in August. Average inflation over the past 12 months moderated to 11.9% in September from 12.8% in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 9.3% in CY 2020, which is down 0.4 percentage points from last month’s forecast, and 8.8% in CY 2021.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation September 2019

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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