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‎ Annual inflation drops to 11.1%

Thursday 10 January 2019 03:20 PM

The Central Agency for Public Mobilization and Statistics (CAPMAS
The Central Agency for Public Mobilization and Statistics (CAPMAS


By Summer Sayed

The Central Agency for Public Mobilization and Statistics (CAPMAS) said in a press release on Thursday that the annual inflation rate has recorded 11.1% on December 2018, compared to (22.3%) for the same month last year.

CAPMAS pointed out that the general index of consumer prices for the whole Republic reached some 296.5 points for December 2018, recording a - 4.1% decline for the month of November 2018.

CAPMAS attributed the reasons for this to the decrease in the prices of vegetables by 22.4%, meat and poultry by 2.3%, fruit by 0.6% and fish and seafood by 0.5%.

The central bank’s Monetary Policy Committee, which left borrowing costs unchanged in December said after last month’s meeting that “exogenous factors that are outside the scope of monetary policy may lead to transitory deviations from pre-announced target rates” for inflation.

The monetary authority also lowered its inflation goal for the fourth quarter of 2020, setting it at 9 percent, plus or minus 3 percentage points.




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