The Central Bank of Egypt (CBE) reports that annual urban headline inflation decreased to 32.5% in April 2024, down from 33.3% in March. April’s annual food inflation rate slowed to 40.5%, the lowest since December 2022, following a peak of 73.6% in September 2023. Annual core inflation decelerated to 31.8% in April from 33.7% in March, reflecting a reduced impact from core food prices. Monthly core inflation was recorded at 0.3% in April, a decrease from 1.7% in the same month of the previous year. , adding to monthly headline inflation, primarily due to clothing, footwear, and personal care products.

Source: Daily News Egypt May 19, 2024 20:43 UTC