Egypt annual inflation rate in decline
For the third month in a row, Egypt’s inflation continued to decline reaching 3.3% down from 3.6% in August.
The decline was impressive as this period marking the beginning of school year usually witnesses an increase in inflation rates. However, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the drop in prices of food, vegetables and beverages year on year dropped the inflation rate.
The inflation rate projected by the end of this quarter due in November is about 5% while the rate expected for the next 2 fiscal years stands at 6%.