08 Jul 2021

Egypt’s CPI (Consumer Price Index) figures for June 2021 showed that urban inflation rose marginally in June 2021 to 4.9%, up from 4.8% in May 2021. On a monthly basis, inflation rose only 0.2% MoM in June versus 0.7% MoM in May. Nationwide inflation registered 5.3% in June versus 4.9% in May.

The main catalyst for the slowdown in monthly inflation was food prices, which rose at a lower level than the previous month. The CBE’s (Central Bank of Egypt) inflation target is 7% +/− 2%. (Source: Reuters (English), Zawya (English), CNBC Arabia)