Egypt’s annual urban inflation falls 11.4% in May: CAPMAS

Egypt’s annual urban consumer price inflation fell by 11.4 percent in May, down from 13.1 percent in April, the official statistics agency CAPMAS said on Sunday.

Inflation surged in 2017 on the back of economic reforms tied to a $12 billion IMF loan programme Egypt signed in late 2016 that includes deep cuts to energy subsidies and tax hikes.

Source: Reuters