Cairo – Mubasher: The core consumer price index (CPI) inflation of Egypt declined to 2.50% in March 2023 from 3.10% during the same month a year earlier.
On a monthly basis, the recorded CPI was lower than 8.10% in February 2023, according to the Central Bank of Egypt (CBE).
Meanwhile, the annual core inflation rate hit 39.50% last month, compared to 40.30% in February 2023.
The Central Agency for Public Mobilization and Statistics (CAPMAS) showed that the monthly headline urban CPI inflation stood at 2.70% last March, which was higher than 2.20% in March 2022 and lower than 6.50% in February 2023.
As for the annual headline urban inflation rate, it reached 32.70% during March, compared to 31.90% in February 2023.
During its 30 March meeting, the Monetary Policy Committee (MPC) of the CBE increased the key interest rates by 200 basis points (bps). The HC Securities & Investment earlier expected the raise in a bid to control the hiking inflation rate.
