Cairo – Mubasher: The monthly core consumer price index (CPI) inflation of Egypt stood at 2.90% in May 2023, higher year-on-year (YoY) than 1.60%.
On a monthly basis, the registered CPI hiked from 1.70% in April 2023, according to the Central Bank of Egypt (CBE).
Meanwhile, the annual core inflation rate hit 40.30% last month, higher than 36.60% in April 2023.
Based on the Central Agency for Public Mobilization and Statistics (CAPMAS) data, the monthly headline urban CPI inflation reached 2.70% in May, which was higher than 1.10% during the same month a year earlier and 1.70% in April 2023.
In this regard, the annual headline inflation rate surged to 32.70% in May 2023 from 30.60% last April.
On a separate note, Egypt’s headline seasonally adjusted Purchasing Managers’ Index (PMI) increased to 47.8 in May 2023 from 47.3 last April, marking the highest level since February 2022.
