Egypt's annual core inflation records 34.2% in December: CBE

CAIRO - 10 January 2024: Egypt’s annual core inflation rate recorded 34.2 percent in December 2023, compared to 35.9 percent in November 2023, according to the Central Bank of Egypt (CBE).

 

The CBE revealed that the monthly core Consumer Price Index (CPI) in Egypt has recorded a monthly rate of 1.3 percent in December 2023, compared to 2.6 percent in the same month of the previous year, and to 1 percent in November 2023.

 

Core inflation discounts or strips out certain categories that are considered more volatile.

 

Earlier on Wednesday, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt's annual inflation rate dropped to 35.2 percent in December, compared to 36.4 percent in November.