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Annual rate of inflation decreased to 10.9% in June: CBE

Tuesday 10/July/2018 - 05:17 PM
Sada El Balad
Ahmed Moamar
The Central Bank of Egypt has released a report says that the annual rate of inflation decreased to 10.9% by the end of June.
This rate is compared with 11.1% in May this year.
On the other hand، the CBE announced that monthly rate of inflation in June rose slightly to 1.6% compared to 1.5 in May.
It is worth to mention that the CBE affirmed that remittances of the Egyptians abroad grew by 41.2% to hit $2.3 billion last April.
This amount was compared to $1.7 billion in April 2017 according to a report authored by the Central Bank of Egypt ( CBE) issued today، Monday.
It is worth to mention that remittances of the Egyptians abroad grew by 48.2% to reach to $26.6 billion over months from July to April in the fiscal year 2-17-2018، as they compared to those months year on year.
It is worth to mention that millions of Egyptians are working abroad.
They remit hundreds millions to their relatives in Egypt every month
That growth broke record in that field

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