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Egypt’s annual core inflation falls to 11.1% in May: CBE

Monday 11/June/2018 - 03:19 PM
Sada El Balad
Hassanein Tayea
Egypt’s annual core inflation rate declined to 11.1 % in May 2018 compared to 11.6 % in April 2018، The Central Bank of Egypt (CBE) said on Monday.

On a monthly basis، core inflation recorded 1.5 percent in May 2018، compared to 1.1 percent in April.

Core inflation discounts or strips out certain categories that are considered more volatile.

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that annual consumer price inflation slipped to 11.4 percent in May 2018، from 13.1 percent in the previous month.

The CBE said in mid-March that it is targeting an inflation rate of 13 percent (±3 percent) in the fourth quarter of 2018، aiming to gradually reach a single-digit rate next year.

The Egyptian government expected inflation to decline by the end of this fiscal year from 17 percent to 13 percent، according to Minister of Finance Amr el-Garhy.


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