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FINANCIAL NEWS
Egypt’s annual urban inflation reaches 11 percent in April
09 Jun 2015
(MENAFN) Egypt’s annual urban inflation rate, or consumer price index, reached 11 percent in April, marking a decrease from 11.5 percent recorded in March, Reuters reported.
After applying the country’s reformative measures, the inflation rate is forecast to decrease further by one to two digits within the upcoming three years, according to Egypt’s Finance Minister.
The slump is set to record a continuous trend due to the country’s long time struggle through its counter measures against increasing inflation, raising prices of gasoline and natural gas by 78 percent.
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