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FINANCIAL NEWS
Urban consumer price inflation in Egypt grows by 30.9pct
11 Apr 2017
(MENAFN) Egypt’s urban consumer price inflation increased for the fifth consecutive month in March, hitting 30.9 percent, which is the highest point in more than three decades.
Accordingly, in Egyptian cities and towns, food and beverage inflation reached almost 41.8 percent year on year in the cited month.
Meanwhile, the central bank accompanied the Nov float with a 3 percent interest rate hike to fight price pressures, while inflation is projected to keep jumping.
In addition, the economic reforms helped the country secure USD12bn loan program for the International Monetary Fund in November.
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MENAFN1104201700450000ID1095384844
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