Egypt annual inflation slows to 14.9 percent in April
Egypt's annual urban inflation rate slowed to 14.9% in April from 15.2% in March. The drop defied analyst forecasts of a rise following currency weakness.
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Egypt annual urban consumer inflation slowed to 14.9% in April, down from 15.2% in March. A Reuters poll of 14 analysts had forecast 15.9% for the month. The unexpected decline came as an $8 billion International Monetary Fund package signed in March 2024 helped stabilize prices.
Data from statistics agency CAPMAS showed monthly prices rose 1.1% in April. Food and beverage costs fell 0.7% on a monthly basis, though they remain 6.7% higher than a year ago.
