Egypt’s core annual inflation slips to 8.07% in June: CBE
CBE building - YOUM7 (Archive)

CAIRO: Egypt’s core annual inflation rate declined a slight to 8.07 percent in June, down from 8.14 percent in May, the Central Bank of Egypt (CEB) announced Thursday.

Earlier on Thursday, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported that Egypt’s annual urban consumer inflation dropped to 11.4 percent in June from 13.1 percent in May.

Meanwhile, Egypt’s annual urban inflation rate declined to 11.5 percent in June, compared to 13.5 percent in May.

CAPMAS attributed the decline mainly to an 11.8 percent slip in vegetables’ prices last month, while meat and poultry prices hiked 1.4 percent.

Inflation soared in Egypt last summer after the government cut energy subsidies by 40 billion EGP ($5.6 billion) in July, 2014, raising fuel prices by up to 78 percent.

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