The overnight deposit rate remained at 27.25%, the overnight lending rate at 28.25%, and the main operation rate at 27.75%. The discount rate was held steady at 27.75%
Annual headline inflation declined to 27.1% in June from 27.4% in May, the CBE explained, with core CPI registering 221.08 last month compared to 174.57 recorded in June 2023
Egypt’s annual headline inflation rate experienced a significant decrease in May, falling to 27.40% from 31.80% in April, according to recent data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The report cited easing inflationary pressure, which fostered a near-stabilization in demand conditions, following the government’s policy adjustments in March to secure better currency availability
The revised forecast, up from its previous projection of 20%, was attributed to an unexpected rise in inflation in February.
