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Citizen Tribune: Egypt's inflation declines ahead of election

The latest figures show core inflation excluding volatile commodities like food and energy, of 11.88 percent, down from 14.35 percent in January.
09.03.18 | Interesting article at Citizen Tribune

Egypt's central bank says inflation dropped to 14.4 percent in February from 17 percent the month before, continuing a decline since it peaked last summer.

Inflation surged beginning in 2016 after President Abdel-Fattah el-Sissi's government slashed subsidies and floated the currency, austerity measures needed to secure a $12 billion bailout from the International Monetary Fund. Those actions caused the price of basic goods to spike, and took a heavy toll on poor and middle-class Egyptians.

The latest figures, announced Thursday, show core inflation, which excludes volatile commodities like food and energy, of 11.88 percent, down from 14.35 percent in January.