Egypt’s annual inflation rate slowed for a third consecutive month in June, offering fresh signs that price pressures are easing after months of rising living costs, helped by a sharp decline in food prices and softer transport costs.
Official data released on Thursday by Egypt’s Central Agency for Public Mobilization and Statistics, CAPMAS, showed annual consumer price inflation in urban areas fell to 14.3 percent in June, down from 14.6 percent in May. The figure was also below analysts’ expectations of 15.1 percent, according to a Reuters poll.
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The slowdown marks the lowest annual inflation rate since February and suggests that the effects of higher fuel prices introduced earlier this year are beginning to fade.
Across the country, annual inflation also eased, falling to 12.2 percent in June from 13.0 percent in May.
On a monthly basis,
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