CBE: Core inflation rate declines to 33.7% in March 2024
First Bank
The Central Bank of Egypt, in a recent statement on its official website, revealed a decrease in the annual core inflation rate, registering 33.7% in March 2024, compared to 35.1% in February 2024.
The statement also mentioned that the basic Consumer Price Index, calculated by the bank, showed a monthly rate of 1.4% in March 2023, compared to 2.5% in the same month of the previous year and 13.2% in February 2024.
The overall Consumer Price Index for urban areas, announced by CAPMAS in 8 April 2024, recorded a monthly rate of 1.0% in March 2024, compared to 2.7% in the same month of the previous year and 11.4% in February 2024.
The annual inflation rate stood at 33.3% in March 2024, compared to 35.7% in February 2024. Data on inflation has been posted on the Central Bank of Egypt website, and monthly analysis of inflation will be published on April 15, 2024.
