Macro Analysis /

Egypt: CPI inflation edges down to 4.4% y/y in March, food prices rise again

    8 April 2021
    • Y/Y increase in food prices reflects COVID-19 supply disruptions, rising global food prices
    • Economic uncertainty and COVID-19 have dragged on consumption and CPI inflation since start of pandemic
    • CBE cut interest rates by 400bps in 2020 to shore up economy
    • CBE sees muted inflationary pressures over medium term, sets new inflation target of 5-9%