Egypt’s core inflation rises to 40.3% in May – Reuters.com
- Date: 11-Jun-2023
- Source: Reuters
- Sector:Financial Services
- Country:Egypt
Egypt’s core inflation rises to 40.3% in May – Reuters.com
CAIRO, June 11 (Reuters) - Egypt's annual core inflation rose to 40.3% in May from 38.6% in April, data from the central bank showed on Sunday.
Month on month it increased to 2.9% in May from 1.7% in April, the data showed.
Inflation has risen sharply over the last year in Egypt after a series of currency devaluations, a prolonged shortage of foreign currency and continuing delays in getting imports into the country.
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