Thursday July 25th, 2024
Download SceneNow app
Copied

CBE Reveals 2.2% Annual Inflation Drop in November 2023

The drop can be attributed to raised interest rates and reduced import tariffs on certain goods.

Cairo Scene

CBE Reveals 2.2% Annual Inflation Drop in November 2023

Egypt's latest inflation data, released by the Central Bank of Egypt (CBE) and the Central Agency for Public Mobilization and Statistics (CAPMAS), revealed that the annual core inflation rate in November decelerated by 2.2 percent, standing at 35.9 percent compared to October's 38.1 percent.

Moreover, the monthly core inflation rate showed a decline, reaching 1 percent in November 2023, down from 1.8 percent in October 2023 and 2.7 percent in November 2022.

Similarly, the annual headline urban consumer inflation rate dropped to 34.6 percent in November, from October's 35.8 percent. In line with this trend, the monthly headline urban inflation rate decreased to 1.3 percent in November, compared to October's 1 percent.`

×