Cairo - Mubasher: The Egyptian deputy finance minister Ahmed Kouchak said that the country’s inflation rate will rise by around 3% to 4.5% following the recent fuel price hike, according to Reuters.
The Central Bank of Egypt previously announced that the inflation rate reached 30.57% in May, after recording 32.06% in April.
The Egyptian cabined decided on Thursday to increase fuel prices, as part of a plan to cut state subsidies to ease the budget deficit.
