(File photo: CFP) Egypt’s headline inflation dips to 34.6% in November Published on:Read < 1 minuteEgypt witnessed a decline in its annual urban consumer price inflation in November, marking a decrease from 35.8% in October to 34.6%, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday. This shift was attributed to a deceleration in the rate of food price escalations, according to CAPMAS data. The trajectory of annual inflation had been upward for the past two years, reaching a peak of 38.0% in September. However, the November reading indicates a downward trend, representing the lowest inflation rate since May. The data suggests a noteworthy moderation in inflationary pressures, particularly influenced by a slowdown in the acceleration of food prices.

Source: The North Africa Journal December 10, 2023 15:18 UTC