Egyptian inflation up, yet rate cut likely

Egyptian inflation quickened in March after almost halving the month before, but will probably still be low enough to prompt authorities to consider their first interest rate cut since 2020.

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Consumer prices in urban areas grew an annual 13.6 per cent last month versus 12.8 per cent in February, Egypt’s main statistics body said yesterday.

Food and beverage prices, the largest single component of the inflation basket, climbed 6.6 per cent year-on-year, compared with 3.7 per cent in February. On a monthly basis, consumer prices increased 1.6 per cent versus 1.4 per cent.

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