Egypt’s annual core inflation rate dropped to 30.53% in October 2017 from 33.26% in September 2017, the Central Bank of Egypt (CBE) said in a statement on Thursday.
The monthly core inflation rate recorded 0.7% in October, versus 0.19% in September, the CBE added.
The International Monetary Fund’s (IMF) World Economic Outlook report expected Egypt’s average consumer price index (CPI) for fiscal year 2017/2018 to fall to 21.3%.
The Central Agency for Public Mobilization and Statistics (CAPMAS) posted earlier this morning that Egypt’s annual inflation rate rose to 31.8% year-on-year in October 2017.
Egypt’s Minister of Finance Amr El-Garhy forecasted inflation rates to decrease in November and December.