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Egypt Inflation Cools Unexpectedly in April
6 May
Summary
- Egypt's April inflation rate decreased to 14.9% from March's 15.2%.
- This slowdown occurred despite increased fuel costs and currency depreciation.
- Monthly inflation also saw a reduction, falling to 1.1%.
Egypt's annual inflation rate in urban areas experienced an unexpected slowdown in April, recorded at 14.9%. This figure represents a decrease from the 15.2% recorded in March, according to state statistics agency CAPMAS. The cooling of inflation occurred despite a backdrop of rising fuel costs, influenced by events in Iran, and a concurrent weakening of the Egyptian currency.
Further analysis reveals that the monthly inflation rate also decreased, falling to 1.1%. This trend suggests a potential shift in economic momentum, defying expectations driven by global and domestic financial pressures. The data was released on Wednesday by CAPMAS.
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