Egypt inflation eases to 5.1 % during 2020, to its lowest since October on food prices

The consumer price index (CPI) stood at 110.6 points in December 2020, falling by 0.5% from November.

Egypt’s annual headline inflation rate registered 5.1% in 2020, compared to 8.5% in 2019, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Sunday

Monthly inflation in urban parts of Egypt decelerated to its lowest level in 18 months in December, pulled down by an easing in food prices, according to the state-run statistics agency, CAPMAS.

Monthly inflation decelerated 0.4% compared to a 0.8% expansion in November. Meanwhile, the annual rate slowed to 5.4% from 5.7% the previous month, according to CAPMAS.

On a monthly basis, food and beverage prices, which comprise the largest single component of the inflation basket, fell 1.2%.

In December 2020, the country’s annual headline inflation reached 6%, down from 6.8% in the prior month, data showed.

The consumer price index (CPI) stood at 110.6 points in December 2020, falling by 0.5% from November.