Egypt Inflation April 2017

Egypt

Egypt: Price pressures continue to recede, despite record-high inflation

May 10, 2017

In April, urban consumer prices rose 1.69% from the previous month, down from March’s 1.95%. Despite representing a significant rise in prices, April’s figure was the lowest in seven months, suggesting the impact of the huge depreciation of the Egyptian pound observed late last year is beginning to wane. Core consumer prices—which exclude some of the hardest-hit commodities such as several food products and regulated utilities—rose 1.10% in April, up slightly from March’s 0.97% rise.

Urban inflation came in at 31.5% in April, up from 30.9% in March and marking the highest rate in decades, while annual average inflation also increased from 19.0% in March to 20.8% in April.

Although inflationary pressures are likely to ease in upcoming months, a fresh wave of subsidy cuts—expected towards the end of the year—will stoke prices again. Inflation is thus expected to remain in the double digits in both 2017 and 2018. FocusEconomics Consensus Forecast participants expect inflation to average 22.4% in calendar year 2017, which is up 0.1 percentage points from last month’s projection. For calendar year 2018, the panel sees average inflation of 13.9%.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation April 2017

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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