CBE: Annual Core inflation rate declines to 29% by January- 2024 End

The Central Bank of Egypt, in a recent statement on its official website, revealed an decrease in the annual core inflation rate, registering 29% in January 2024, compared to 34.02% in December 2023.

According to CBE's statement, the official Consumer Price Index (CPI), calculated by CBE, recorded a monthly rate of 2.2% in January 2024, compared to 6.3% in the same month of the last year and a monthly rate of 1.3% in December 2023.

The overall Consumer Price Index for urban areas, announced by CAPMAS, recorded a monthly rate of 1.6% in January 2024, compared to 4.7% in the same month of last year and monthly rate of 1.4% in December 2023. The annual inflation rate stood at 29.8% in January 2024, compared to 33.7% in December 2023.