CAIRO – 10 March 2022: The annual core inflation rate recorded 7.2 percent in February 2022, compared to 6.3 percent in January 2022, the Central Bank of Egypt (CBE) said in a statement Thursday.
The Consumer Price Index in Egypt has recorded a monthly rate of 1.2 percent in February, compared to 0.3 percent for the same month last year, and to 0.8 percent in January 2022, the statement added.
Core inflation discounts or strips out certain categories that are considered more volatile.
The Central Agency for Public Mobilization and Statistics (CAPMAS) said earlier Thursday that Egypt’s annual consumer price inflation recorded 10 percent in February 2022, compared to 4.9 percent in the same month of 2021.
In January, Egypt’s annual consumer price inflation recorded 8 percent.
As for urban inflation, it hiked to 8.8 percent in February, surging to its highest in nearly three years, up from 7.3 percent in February 2022. February's inflation figure was the highest since June 2019.
On a monthly basis, inflation recorded 121.4 points in February 2022, recording a 2 percent increase compared to January 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
The Central Bank of Egypt aims to achieve an inflation rate of 7 percent (±2) percentage points on average during the fourth quarter of 2022.
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