Egypt’s inflation down in January

Egyptian inflation slowed for the fourth straight month, the Central Agency for Public Mobilisation and Statistics reported on Thursday.

Consumer Price Index (CPI) hit 197.6 points, pushing inflation in the whole country downwards to 31.2% in January, compared with 35.2% the previous month, according to the same report.

It added that the cost of food and beverages, the largest single component of the inflation basket, fell to 47.2%, while monthly inflation slightly dropped to 1.3% in January versus 1.4% in December.