Egypt’s core inflation hits highest level in six years

Egypt's annual core inflation jumped to 25.86% in December from 20.73% in November, according to the Central Bank of Egypt (CBE).

The monthly core inflation also rose to 4.35% in December from 5.33% a month earlier, added CBE.

The country’s inflation rate had spiked remarkably following the CBE decision to float the Egyptian pound against the US dollar two months earlier.

The inflation rate is the highest since at least January 2011, according to central bank figures available online.

Mubasher Contribution Time: 10-Jan-2017 15:31 (GMT)
Mubasher Last Update Time: 10-Jan-2017 15:31 (GMT)