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ArabFinance: The annual core inflation rate decreased to 1% in June from 1.5% in May, registering a 33% Month on Month decline, the Central Bank of Egypt (CBE) announced.
Core consumer price index (CPI) inflation stood at -0.3% in June 2020 when compared to 0.3% in the same month in 2019 and to 0.3% in May this year.
Meanwhile, the Central Agency for Public Mobilization and Statistics said monthly headline urban CPI inflation in the country reached 0.1% in June 2020, compared to -0.8% in the corresponding month last year and to zero in May 2020.
The CBE added that annual headline inflation rate, therefore, recorded 5.6% in June, up 19% from 4.7% in May, due to unfavorable base effect.
Egypt’s central bank recently said net international reserves grew by 6% at the end of June.
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