Inflation in Egypt slowed in June after a six-month acceleration that left the country facing some of its biggest cost increases in years.
Consumer prices in Egypt rose 13.2% from a year earlier, down from 13.5% the previous month.
But in a sign that price pressures remain intense, a core index that strips out volatile items such as food and energy jumped to an annual 14.6% in June. It’s now at the highest since 2017 after more than doubling from the start of the year.
A 1.8% monthly decline in the cost of food and beverages, which make up the largest single component of the inflation basket, was one of the main drivers behind the latest slowdown. Their annual increase in June was down to 22.3% from 24.8% in May.
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