Annual core inflation rate declines to 40.4% by August-2023 end

The Central Bank of Egypt, in a statement released on its official website, revealed the decrease in the annual core inflation rate, registering 40.4% in August 2023, compared to 40.7% at the end of July 2023.

In its statement, CBE also noted that the Consumer Price Index, calculated by them, showed a monthly rate of 0.3% in August 2023, compared to a monthly rate of 0.6% in the same month of the previous year and a monthly rate of 1.3% in July 2023.

CAPMAS, in a statement released earlier today, announced that inflation rate for August 2023 was 37.4%, compared to 36.5% in July 2023.

The statement further indicated that the general Consumer Price Index for urban areas, as declared, recorded a monthly rate of 1.6% in August 2023, compared to a rate of 0.9% in the same month of the previous year and a monthly rate of 1.9% in July 2023.

The inflation data has been posted on the Central Bank of Egypt's website, and the monthly inflation analysis will be published on September 15, 2023.