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.
Author: Oliver Reynolds, Economist