print logo
Annual inflation rate declined for the fourth consecutive month to 4.3 percent in September.
16.10.19 | Interesting article at Egypt Today

The decline in annual inflation rate for the fourth consecutive month to 4.3 percent in September confirms the safety of the measures undertaken to curb the inflationary wave after the decision to liberalize the exchange rate in November 2016, economist and head of the Capital Center for Economic Studies and Research Khalid al-Shafei said.

Shafei clarified in a statement that the rate of inflation in urban areas fell to 4.8 percent to the lowest level since November 2012, and core inflation fell to 2.6 percent in September, compared to 4.9 percent in August.

He added that on a monthly basis, inflation recorded -2.3 percent compared to 0.4 percent in the previous month, which means that the pace of commodity price rises has stalled.

He stressed that the decline in inflation to these levels may push towards an interest rate cut of about 1 percent at the next meeting of the Central Bank on November 14, 2019.