Egypt's inflation drops to 11.1 percent in December

CAIRO — Egypt says its annual inflation rate dropped to 11.1 percent in December from 15.6 percent the previous month.

The figures, announced Thursday by the state statistics bureau, were the second straight drop for inflation, keeping it within the central bank's target range of 13 percent, plus or minus 3 percentage points.

The data showed the decrease was driven by a decline in food and beverages prices, the single largest component in the basket of goods and services used to gauge inflation.

Inflation peaked in 2017, hovering around 30 percent after the government cut fuel and electricity subsidies as part of broader reforms meant to overhaul the economy.

Must Read

Rohingya refugees storm Bangladeshi border as...

Aug 28, 2017

About 1,000 ethnic Rohingya villagers from Myanmar have forced their way into Bangladesh after...

UNHCR: 123,000 Rohingya refugees have fled Myanmar

Sep 5, 2017

The UN refugee agency says about 123,000 Rohingya refugees have entered Bangladesh since violence...

Seeking home's comforts, Rohingya couple make...

Sep 7, 2017

A young Rohingya couple seeking the comforts of home made a deadly choice; the man's brother made...

Fleeing Rohingya face hunger, little hope in...

Sep 8, 2017

Hundreds of thousands of Rohingya Muslims fleeing violence in Myanmar find little hope, constant...

Bangladesh hospital struggles to cope with...

Sep 11, 2017

Overwhelmed Bangladesh hospital struggles to cope with violent injuries inflicted on Rohingya...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress