Inflation is down by 23 per cent on August 2008
Egypt’s core inflation rate, calculated by the Central Bank of Egypt, increased to 6.6 per cent in November from 6.5 per cent in October.
The index is down by 23 per cent on August 2008.
The core inflation rate does not take the price of fruit and vegetables and subsidised goods into account. These have been the main drivers of headline inflation over the past nine months. The bank began reporting the adjusted index since September.
Headline inflation, which is reported by the Central Agency for Public Mobilisation & Statistics, fell by 0.1 per cent to 13.2 per cent. This is the first monthly drop in the index since December 2008. It is down from a peak of 23.6 per cent in August 2008.
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.