Driving the decline in urban inflation was a decrease in annual food inflation which settled at 45% in March, its lowest since December 2022
Core inflation excludes certain volatile categories from consideration.
According to CAPMAS, Egypt's monthly inflation rate was 11.0% for February 2024 compared to 1.7% for January 2024
Egypt’s economic growth is expected to slightly narrow in 2024, according to the African Development Bank (AfDB), dropping from an estimated 4% in 2023 to 3.7% in 2024
The statistics agency pointed to a sharp decline in the costs of food and beverages, the largest single component of the inflation basket, which slid by 47.9%
