CBE: Egypt’s Core Inflation rises to 8.14 % in May

Egypt’s core annual inflation rate rose to 8.14 percent in May, up from 7.14 percent in April, the central bank said on Wednesday.

Inflation spiked in Egypt after the government slashed subsidies in July, pushing up fuel prices by up to 78 percent.

Meanwhile, Egypt’s urban consumer inflation rose to 13.1 percent in May from 11 percent in April, the official statistics agency CAPMAS said.

Source: Reuters