Urban Inflation Almost Unchanged In June 2021

Giving More to Your Wealth
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)

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