Egypt’s annual core inflation hits 38.6% in April: CBE

REUTERS

The bank stated that the monthly headline urban CPI inflation recorded 1.7% in April, compared to 3.3% in April 2022 and 2.7% last March

Staff Writer, Arab Finance

May 11, 2023

EGYPT INFLATION

PHOTO

Egypt’s annual core inflation rate hit 38.6% in April, compared to 39.5% in March 2023, the Central Bank of Egypt (CBE) stated in a press release on May 11th.

The monthly core consumer price index (CPI) registered 1.7% last April, down from 2.4% in the same month of 2022 and 2.5% in March.

The bank stated that the monthly headline urban CPI inflation recorded 1.7% in April, compared to 3.3% in April 2022 and 2.7% last March.

It is worth mentioning that the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt’s annual headline inflation rate jumped to 31.5% in April, compared to 14.9% in the same month of 2022.

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