Egypt’s annual urban consumer inflation rate falls to 31.6% in September
Inflation soared to a record high in July on the back of fuel and energy subsidy cuts by the government.
Cairo - Muslimchronicle
Egypt’s annual urban consumer price inflation eased slightly in September to 31.6 percent from 31.9 percent in August, the official CAPMAS statistics agency said on Tuesday.
Inflation soared to a record high in July on the back of fuel and energy subsidy cuts by the government.
Import-dependant Egypt abandoned its currency peg to the US dollar last November and the currency has depreciated roughly by half since then.
Source:Arabnews
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