The Cabinet media center said the international financial institutions lauded the decline in Egypt's annual inflation rate to the lowest level in four years, recording 8.9% in June compared to 13.8% in the correspondent period in 2018.
Egypt's annual inflation rate reached about 30.9% in June 2017 and 14.8% in 2016. In 2015, it recorded 11.5 percent, according to an infographic posted by the media center page on Facebook Monday.
The Middle East's average inflation rate was nearly 9% in 2018 while in Africa, it was 11.3% in the same year.
[caption id="attachment_68783" align="aligncenter" width="668"]
Decline in Annual Inflation Rate[/caption]
It is worth mentioning that Egypt's monthly inflation rate slumped by one percent in June compared to May.
The drop in Egypt's inflation rate was due to the decrease in the prices of vegetables, meat, chicken, cheese, eggs, and milk.
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