It indicated, in its monthly report issued on Wednesday, that the monthly urban inflation rate also declined to 1.7% in April, compared to 2.7% in March. The agency indicated that the annual inflation rate for the entire republic was 31.5% in April 2023, compared to 33.9% in the previous March, 14.9% in April 2022. Moreover, the monthly core inflation, computed by the Central Bank of Egypt, recorded 1.7% in April 2023 compared to 2.4% in the same month of the previous year and 2.5% in March 2023. Accordingly, the annual core inflation rate recorded 38.6% in April 2023, compared to 39.5% in March 2023. Abdullah stressed that the central bank did not and will not hesitate to use monetary policy to confront inflation.

Source: Daily News Egypt May 11, 2023 06:25 UTC