Slow Egypt economy keeps Sept inflation down

Egypt's urban consumer inflation slowed to 6.2 percent in the 12 months to September 2012, the state statistics agency reported on Wednesday, indicating economic activity continues to be slow despite government efforts to raise business confidence.

Prices rose 6.5 percent in the 12 months to August 2012.

Egypt's economy was battered by more than a year and half of political turmoil after Hosni Mubarak was toppled last year, and investors are still wary of a nation that in recent years had been a darling of frontier market investors.

The government of President Mohamed Mursi, elected in June, has been trying to draw back investors by pledging to ease the way for businesses and rein in a hefty budget deficit. It is in talks for a $4.8 billion International Monetary Fund loan.