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Egypt's annual urban consumer inflation rate falls to 31.6 pct in September
October 10, 2017 / 5:50 AM / in 14 days

Egypt's annual urban consumer inflation rate falls to 31.6 pct in September

CAIRO, Oct 10 (Reuters) - Egypt’s annual urban consumer price inflation eased slightly in September to 31.6 percent from 31.9 percent in August, the official CAPMAS statistics agency said on Tuesday.

Inflation soared to a record high in July on the back of fuel and energy subsidy cuts by the government.

Import-dependant Egypt abandoned its currency peg to the U.S. dollar last November and the currency has depreciated roughly by half since then.

Reporting by Eric Knecht; Editing by Christian Schmollinger

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