Economics
Egyptian Inflation Slowed for First Time Since July
- Index growth finally slows after three months of acceleration
- Authorities still likely to hold interest rates this month
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Egypt’s inflation rate eased to its lowest level in almost two years, reversing a three month acceleration trend despite a recent cut in fuel subsidies.
Annual consumer prices in urban areas rose 25.5% in November versus 26.5% the month before, state statistics agency CAPMAS said Tuesday. It’s the lowest since December 2022, according to data compiled by Bloomberg.