Egypt’s annual urban inflation falls to 13.3% in March

The Central Agency for Public Mobilization and Statistics (CAPMAS) reported a decrease in the annual urban consumer price inflation by 1.1 percent in March 2018 compared to February 2018.

CAPMAS said that annual urban consumer price inflation fell to 13.3 percent in March, while it registered 14.4 percent in February.

According to a CAPMAS statement on Tuesday, total Egypt consumer prices index for March 2018 reached 269.8 points, registering monthly increases of 1.0 percent compared with February.

Egypt inflation rates have soared since the country’s central bank floated the Egyptian pound in November 2016 as part of an economic reform program to secure a $12 billion loan from the International Monetary Fund (IMF).

Following this, inflation climbed and reached a multi-decade high in July 2017, but began to ease since August 2017.

Edited translation from Al-Masry Al-Youm

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