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This decrease in inflation numbers took place as Egypt now has greater availability of foreign exchange after a recent currency flotation appeared to ease some price pressures for the Middle East’s largest population
Egypt’s annual headline inflation dropped to 31.8% in April in comparison to 33.1% in March, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS). The general consumer price index reached 223.6 points in April 2024.
This decrease in inflation numbers took place as Egypt now has greater availability of foreign exchange after a recent currency flotation appeared to ease some price pressures for the Middle East’s largest population. The overall monthly inflation rate for the entire country was recorded at 0.9% in April 2024, compared to 1.0% in March 2024.
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Every month, the food and beverage prices decreased by 0.9%, and on an annual basis, it increased by 37.6%. The International Monetary Fund predicts that inflation will drop to 15.3% by the end of June 2025, and it also expects inflation to be 32.1% by the end of next month
