CBE: Core inflation rate declines to 34.2% in December 2023

The Central Bank of Egypt, in a recent statement on its official website, revealed a decrease in the annual core inflation rate, registering 34.2% in December 2023, compared to 35.9% in November 2023.

The statement also mentioned that the basic Consumer Price Index, calculated by the bank, showed a monthly rate of 1.3% in December 2023, compared to 2.6% in the same month of the previous year and 1.0% in November 2023.

The overall Consumer Price Index for urban areas, announced by CAPMAS, recorded a monthly rate of 1.4% in December 2023, compared to 2.1% in the same month of the previous year and 1.3% in November 2023. The annual inflation rate stood at 33.7% in November 2023, compared to 33.7% in November 2023.