Cairo – Mubasher: Egypt’s core price index (inflation) annually surged 24.3% in December 2016, said the Central Agency for Public Mobilization and Statistics (CAPMAS).
On a monthly basis, the core price index, which covers urban consumer only, moved up by 3.4% in December to record 218.1 points, compared with 211 points in November.
According to the Egyptian government, inflation is forecast to decrease to 7-8% by the fiscal year 2018/19.
Meanwhile, the International Monetary Fund earlier announced that Egypt’s inflation index is to hold above 18% in 2017.
