Cairo – Mubasher: The Central Bank of Egypt (CBE) has announced that the annual core inflation rate fell to 11.1% in May 2018.
The monthly core inflation recorded 1.5% last May, versus 1.1% in April, the CBE added in a statement.
On Sunday, the Central Agency for Public Mobilization and Statistics (CAPMAS) said that Egypt’s annual inflation eased to 11.5% year-on-year in May 2018 from 30.9%.
The consumer price index (CPI) edged up 0.3% month-on-month, recording 274.7 points last month, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Sunday.
It is worth noting that annual inflation had recorded 12.9% in April 2018.
The London-based economic research consultancy Capital Economics had previously forecast that Egypt’s inflation rate would slash to 8% in 2019.
