Cairo – Mubasher: Egypt’s inflation is expected to reach its peak by the end of the first quarter of 2017, and then starts to decline as the price shocks that followed decisions to raise fuel prices and abandon currency controls fade, Egyptian Finance Minister, Amr El-Garhy, told Bloomberg on Monday.
In an interview with Bloomberg Television in Dubai, El-Garhy said, “It is all resulting from supply shocks rather than demand driven kind of inflation. We knew that this is still peaking when it comes to inflation, we expect this to happen”.
Egypt's annual headline inflation hit 29.6% in January, reaching 227.5 points, compared to 218.1 points in December.
