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Uptick in Egypt Inflation Leaves Outlook Split on Rate Move

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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.