Egypt's headline and core inflation edge up in August

Egypt's annual urban consumer inflation, or headline inflation, rose to 14.2 percent in August from 13.5 percent in July, statistics agency CAPMAS said on Monday, as subsidy cuts continued to take a toll on the economy.
Headline inflation had jumped in June to reach 14.4 percent due in part to price hikes to energy and transport, before dropping back in July.

Egypt's core inflation edged up to 8.83 percent year-on-year in August from 8.54 percent in July, the Central Bank of Egypt (CBE) said on Monday.

This is the second month in a row that the core inflation stands at single digits since the economic reform was initiated.

The slight rebound in August was due to the direct or indirect impact of subsidy cuts and was broadly in line with expectations, said Allen Sandeep, head of research at Naeem Brokerage.