Cairo – Mubasher: Egypt’s annual core inflation rate went up to 35.26% in July 2017, compared to 31.95% in June 2017, the Central Bank of Egypt (CBE) said.
The monthly core inflation rate reached 2.76% in July, compared to 1.8% in the month before, the CBE added.
Egypt’s Minister of Finance Amr El-Garhy forecasted that the inflation rates will start to decrease in November and December 2017, compared to the current rates after a year of liberalisation of the exchange rate.
Earlier on Thursday, the Central Agency for Public Mobilization and Statistics (CAPMAS) said Egypt’s inflation rate levelled up 34.2% year-on-year in July 2017.
