Economics
Egypt Annual Inflation Slows, Dipping Below Quarterly Target
Photographer: Mohamed Elraai/picture alliance/Getty Images
This article is for subscribers only.
Annual inflation in urban parts of Egypt grew at a slower pace in December, potentially clearing the way for the central bank’s focus to be on the global impact of the pandemic when it mulls upcoming rate decisions.
The year-on-year inflation rate slowed to 5.4% from 5.7% in November, the state-run statistics agency CAPMAS said on Sunday. That puts the average rate for 2020’s final three months at 5.2%, according to Bloomberg calculations -- significantly below the central bank’s target of 9%, plus or minus 3 percentage points.