London-based research firm ‘Capital Economics’ predicted inflation levels will decline over the coming months. Notably, Egypt’s annual core inflation rate declined to 7.94% in November from 8.86 % in October, exceeding analysts’ expectations, according to a report from the Central Bank of Egypt (CBE). Capital Economics assured that the current level of inflation within the target range of the CBE at (13 ± 3%) during 2018. Capital Economics also predicted that the inflation rate would fall further in the coming months as the effects of rising food prices continued to fall. The report stressed maintaining the view that inflation in Egypt will eventually fall more than expected in the next two years.

Source: Daily News Egypt December 12, 2018 15:56 UTC