Egypt inflation slows to 13% in May as price pressures ease

RIYADH: Egypt’s annual inflation rate slowed to 13 percent in May from 13.4 percent in the previous month, extending a gradual easing in price pressures as authorities push ahead with economic reforms and tighter monetary policy. Data released by the Central Agency for Public Mobilization and Statistics, or CAPMAS, showed the consumer price index rose 1.4 percent month on month to 292 points in May. The moderation comes as Egypt’s economic outlook improves following a series of reforms backed by an $8 billion International Monetary Fund support package agreed in March 2024.

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