Wednesday 20 June 2018

Egypt urban inflation slows to 11.4pc

Cairo, February 10, 2014

Egypt's annual urban inflation rate slowed slightly to 11.4 percent in January from 11.7 percent in December, the official statistics agency Capmas said.

November's figure of 13 per cent was the highest annual rate in nearly four years.

Egypt's economy has continued to suffer from investment outflows and a drop in tourism during political turmoil since autocrat President Hosni Mubarak was toppled in an uprising in 2011.

Despite inflows of billions of dollars in aid from Gulf states after the army's ouster last year of Islamist President Mohamed Mursi, economic recovery is limited.

The army-backed government introduced a 30 billion Egyptian pound ($4.3 billion) stimulus package in 2013 and said it would follow up with a second package of similar size last month, but details of that package have yet to be announced. - Reuters

Tags: Egypt | inflation | urban |

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