Inflation edges higher to ‘put the brakes’ on Egypt’s rate cuts | 2019-03-12 | daily-sun.com

Inflation edges higher to ‘put the brakes’ on Egypt’s rate cuts

12 March, 2019 12:00 AM printer

EGYPT: Egypt’s annual urban inflation accelerated for a second month, complicating the central bank’s path forward after its first interest-rate cut in almost a year.

Paced by food costs, consumer prices in February rose 14.4 per cent from a year earlier after a gain of 12.7 per cent in January, the state statistics agency, CAPMAS, said on Sunday. The monthly increase of 1.7 per cent was the biggest since October, report agencies.

The figures should “put the brakes on the possibility of further interest-rate cuts by Egypt’s central bank, for now,” Naeem Holding.


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