Egypt/ Inflation June 2020 reading
Annual urban headline inflation rate accelerated in June 2020 to 5.6%, up from 4.7% in May. The increase in annual reading was expected due to the unfavorable base effect, yet the reading came below our expectations of 6%. Annual inflation in June was driven by non-food prices, where food inflation increased by only 0.1%. The average price level remained subdued on a monthly basis and was slightly up by 0.1%, mainly due to the decline in food prices by 1.4% m/m
Mona Bedeir
Senior Economist
Tel.: +202 3300 5722