CBE: Core Inflation Rises to 3.7%

The Central Bank of Egypt (CBE) announced an increase in the core inflation rate on an annual basis to 3.7% by the end of March 2021 from 3.6% in February.

It also indicated that the monthly rate recorded 0.5% compared to 0.4% year-on-year, and a rate of 0.3% in February 2021

CBE measures the basic inflation rate, and it is derived from the general inflation data prepared by the Central Agency for Public Mobilization and Statistics (CAPMAS), and excludes some goods whose prices are determined administratively, in addition to some commodities that are affected by temporary supply shocks.

CAPMAS data showed on Thursday that the annual urban inflation rate stabilized at 4.5% in March 2021. On a monthly basis, the headline inflation rate reached 0.6% in March 2021, compared to 0.2% in February.