Egypt’s inflation rate rises 3.6% y-on-y in November

Egypt’s annual urban consumer price inflation rose to 3.6 percent in November from 3.1 percent in October, the state-owned statistics agency CAPMAS said on Tuesday.

Egypt is emerging from a three-year IMF-backed economic reform programme that during 2017 saw inflation spike to as high as 33 percent.

The government has hiked domestic fuel prices several times, most recently in July, as part of the terms of the $12 billion agreement.

Source: Reuters