Egypt Inflation

Egypt

Egypt: Inflation climbs further in November

December 11, 2015

In November, consumer prices fell 0.3% over the previous month, which contrasted the 2.2% increase recorded in October. According to the Central Agency for Public Mobilization and Statistics, the decrease was mainly driven by lower prices for food and non-alcoholic beverages.

Inflation climbed to 11.1% in November, up from October’s 9.7%. A shortage of foreign currency is driving up the cost of imported goods, including food. Meanwhile, annual average inflation also rose, from 11.1% in October to 11.3% in November. Core inflation, which excludes volatile items such as fresh fruit and vegetables, rose 7.5% over the same month last year, which was higher than the 6.3% increase tallied in October.

Met the why particular Consensus Forecast participants expect inflation to average 9.6% in calendar year 2016, which is unchanged from last month’s projection. For calendar year 2017, the panel sees average inflation decreasing to 9.4%.


Author:, Economist

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Egypt Inflation Chart


Egypt Inflation November 2015

Note: Year-on-year and month-on-month variation of urban consumer price index in %.
Source: Central Agency for Public Mobilization and Statistics (CAPMAS).


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