Egypt/ inflation November 2020 reading
Driven by the acceleration in food prices and an unfavorable base year, annual urban headline rose for the third consecutive month to 5.7% in November, up from 4.7% in October, the highest level since April 2020. Yet, it is still below the Central Bank of Egypt’s (CBE) target range of 9% ± 3%. On a monthly basis, inflation eased to 0.8% in November, down from 1.8% in October.
Mona Bedeir
Senior Economist
Tel.: +202 3300 5722