CBE: Annual Core Inflation Rate Fell to 40.7% by July -2023end

The Central Bank of Egypt has revealed in a recent statement on its official website that the annual core inflation rate Fell to 40.7% in July 2023, compared to 41.0% at the end of June 2023.

According to CBE's statement, the official Consumer Price Index (CPI), calculated by CBE, recorded a monthly rate of 1.3% in July 2023, compared to a monthly rate of 1.5% in the same month of the previous year and a monthly rate of 1.7% in June 2023.

In addition, Monthly headline urban CPI inflation, published by the Central Agency for Public Mobilization and Statistics on August 10, 2023, recorded 1.9% in July 2023 compared to 1.3% in the same month of the previous year and to 2.1% in June 2023, Accordingly, the annual headline inflation rate recorded 36.5% in July 2023, compared to 35.7% in June 2023.