Egypt Core Inflation Rises to 7-Year High as Dollar Woes Persist

  • Food and beverage prices in June climb over 33% year-on-year
  • Central bank reaction will be mild, EFG-Hermes economist says

Egypt’s core inflation rate, a key gauge monitored by the central bank, climbed to its highest level in seven years in June, underscoring the challenges confronting the government as it grapples with a foreign-currency crunch.

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