Reuters expects Egypt's annual inflation rate to decline to 32.8% during April 2024

Egyptian inflation is expected to have eased for a second month in April, continuing a slowing trend since September, a Reuters poll showed on Tuesday.

Annual urban consumer inflation is forecast to have slowed to 32.8% in April from 33.3% in March, according to the median forecast of 17 analysts.

Inflation had been slowing from September's record high of 38.0% but in February unexpectedly surged again to 35.7%. "We see April CPI slowing to 32.1% y/y (from 33.3%), and expect Egypt’s broader disinflation trend to continue, with annual inflation declining to 25% by end-FY24 (year ending June 2024)," wrote Carla Slim of Standard Chartered.

A median of nine of the analysts surveyed expected core inflation, which excludes fuel and some volatile food items, to decline to 32.7% in April from 33.7% in March. The state statistics agency CAPMAS will release April inflation data on Thursday.