Egypt’s annual urban consumer price inflation soars to 10.3% in April

Egypt’s annual urban consumer price inflation soared to 10.3 percent in April from 9 percent in March, the official statistics agency CAPMAS announced Tuesday.

It was the first time since December that inflation has accelerated. The central bank devalued the pound in March by around 13 percent, and then hiked interest rates by 150 basis points at its MPC meeting on March 17 to curb inflationary pressures.

Source: Reuters

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