Egypt: Inflation tumbles in December
January 10, 2019
In December consumer prices fell 3.39% compared to the previous month, more than the 0.76% decrease in November. This most recent outturn was due to a large fall in prices for food and beverages.
Inflation decelerated to 12.0% in December, down from 15.7% in November and within the Central Bank of Egypt’s Q4 2018 target range of 13% plus or minus three percentage points. A new target of 9% plus or minus three percentage points was announced in December for Q4 2020. Core inflation ticked up to 8.3% in December from 7.9% in November. Meanwhile, annual average inflation slowed to 14.4% in December, down from 15.2% in November.
Egypt Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 12.8% in calendar year 2019, which is unchanged from last month’s forecast, and 10.5% in calendar year 2020.
Author: Edward Gardner, Economist