Cairo – Mubasher: Egypt’s annual inflation rate declined 32.9% year-on-year in September 2017, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Tuesday.
Inflation rate retreated in August 2017, recording 33.2% year-on-year.
Inflation is still leaping since the liberalisation of the exchange rate on 3 November 2016, and the lowering of energy subsidies.
The consumer price index (CPI) rose 1% month-on-month in September 2017, versus 1.2% in August 2017.
The CAPMAS attributed the increase CPI to the growth in the prices of water and residential services, vegetables, and stationaries by 39.6%, 3.5%, and 14.9%, respectively.
The Egyptian minister of finance Amr El-Garhy forecasted inflation rate to drop in November and December.
