CBE: Annual Core Inflation Rate Rises to 40.3% by May-2023end

The Central Bank of Egypt has revealed in a recent statement on its official website that the annual core inflation rate has increased to 40.3% in May 2023, compared to 38.6% at the end of April 2023.

According to CBE's statement, the official Consumer Price Index (CPI), calculated by CBE, recorded a monthly rate of 2.9% in May 2023, compared to a monthly rate of 1.6% in the same month of the previous year and a monthly rate of 1.7% in April 2023.

In a statement issued yesterday, Saturday, June 10, 2023, CAPMAS announced that the general annual inflation rate reached 32.7% in May 2023, compared to 30.6% in April 2023.

The statement also indicated that the general Consumer Price Index for urban areas, announced by CAPMAS, recorded a monthly rate of 2.7% in May 2023, compared to a rate of 1.1% in the same month of the previous year and a monthly rate of 1.7% in April 2023.