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FinancialNews


  • 10-03-19

    Egypt hits 14.4 percent in urban inflation

    (MENAFN) Egypt was announced to have posted a surge in its urban consumer price inflation on a yearly basis last month to stand at 14.4 percent.

    Official statistics agency CAPMAS revealed the figure on Sunday, comparing it to the 12.7 percent in urban consumer price inflation seen in January.

    This figure comes as a result of Egyptian efforts to abide by a loan agreement secured with the International Monetary Fund (IMF) at a value of USD12 billion.

    In order to stick with the IMF loan agreement, Egypt made sure to execute a number of extreme austerity steps.

    MENAFN1003201900450000ID1098231459

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