Uptick in Egypt Inflation Leaves Outlook Split on Rate Move

Inflation in urban parts of Egypt accelerated to its fastest pace in four months, an expected uptick that could make real-interest rates and Covid-19 the key factors when the central bank meets this week.

Consumer prices rose 4.5% in October, up from 3.7% the month before, as education expenses eclipsed a fall in food costs, the state statistics agency CAPMAS said Tuesday. Month-on-month inflation reached 1.8%, its quickest pace since July 2019.