Sandy Eskaros

Egypt inflation picks up in April, interest rates to remain unchanged

Pre-Ramadan demand takes Food prices up
Inflation for total Egypt accelerated to 5.9% YoY in April 2020, from 4.6% YoY in March. This acceleration is explained by the rise in demand for food items that usually occurs on the month preceding Ramadan. This demand surge was reflected on Food & Beverages and Tobacco categories MoM.
Inflation was driven by its heaviest constituents: Food, Utilities and Healthcare
Both on an annual and monthly level, April inflation was driven by non-food items as...

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Sandy Eskaros

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