CAIRO - Egypt's annual urban consumer inflation in April slowed to 30.6% from 32.7% in March, data from the state statistics agency CAPMAS showed on Wednesday, lower than analysts had expected. Month-on-month, urban inflation slowed to 1.7% from 2.7% in March and 6.5% in February. The median forecast of 13 analysts polled had suggested annual urban consumer inflation would slip to 31.0% in April. Egypt has devalued its currency by half since March 2022 after fallout from Russia's invasion of Ukraine exposed its economic vulnerabilities. (Reporting By Ahmed Tolba; Writing by Patrick Werr; Editing by Tom Hogue and Andrew Heavens)

Source: The North Africa Journal May 10, 2023 08:02 UTC