Cairo – Mubasher: Egypt’s inflation fell to 12.5% year-on-year in April from 12.9% in the year-ago period.
The consumer price index (CPI) rose by 0.4% month-on-month, recording 308.1 points last month, compared to 307 points in March, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Thursday.
During the period from January to April, the country’s inflation registered 13.1%, according to data released by the state-run statistics agency.
The monthly rise in inflation rate was supported by the price hikes of food and beverages by 0.3%, which also registered a 12.8% year-on-year increase in April.
Urban inflation rose by 0.5% month-on-month to 299.7 points last month from 289.2 points, while rural inflation grew by 0.2% to 318.1 points during the same period, compared to 317 points in March.
It is noteworthy that CAPMAS aims to slash annual inflation to 9% during the fourth quarter of 2020.
The International Monetary Fund (IMF) expects Egypt’s inflation rate to reach 14.5% in 2019 and 12.3% in 2020.
