Cairo – Mubasher: Egypt’s core inflation is expected to fall to 23% by December 2017, according to a research issued by Capital Economics on Tuesday.
Inflation rates are likely to decline over the coming months, which will push the Central Bank of Egypt (CBE) to reduce interest rates, the research firm added.
The Egyptian minister of finance Amr El-Garhy forecasted inflation rate to drop in November and December.
The Central Agency for Public Mobilization and Statistics (CAPMAS) on Tuesday posted that Egypt’s annual inflation rate declined 32.9% year-on-year in September 2017.
