Egypt’s annual core inflation eases slightly to 32.06% in April

Egypt’s annual core inflation eased slightly to 32.06 percent in April, down from 32.25 percent in March and 33.10 percent in February, the central bank (CBE) announced Wednesday.

On a monthly basis, core inflation increased to 1.10 percent from 0.97 percent recorded in March, the bank said on its website.

The core consumer price index that the CBE uses to measure price levels — which excludes essential commodities such as fruits and vegetables — started to hit double digits in May 2016, when it reached a seven-year-high of 12.2 percent.

Egypt’s annual headline inflation increased slightly to 32.9 percent in April, up from 32.5 percent the month before, state statistics body CAPMAS announced on Wednesday.

In late March, the monetary policy committee at CBE left its key interest rates unchanged for the fourth consecutive meeting, keeping its overnight deposit rate at 14.75 percent and its overnight lending rate at 15.75 percent.

Source: Ahram Online