Egypt’s consumer inflation rises to 9.8% in December

by Reuters 14 views0

Egypt’s annual urban consumer inflation rose to an annual 9.8 per cent in December from 9.1 per cent the previous month.

This is according to the official statistics agency, CAPMAS.

Inflation spiked in Egypt after the government slashed energy subsidies in July but fell in November from a peak of 11.8 per cent in October.

(READ MORE: Egypt’s economy on recovery path)

The central bank has kept interest rates steady after raising them in July to counter the subsidy cuts. It is due to make its next interest rate decision next week.