Cairo – Mubasher: Egypt’s annual inflation rate is likely to drop to 27%, 16.6%, and 14% in the second quarter of fiscal year 2017/2018, Q3, and Q4 respectively, according to a recent report by Pharos Research.
The inflation rate fell to 0.2% month-on-month, which positively impacted the annual inflation rate due to the base effect, Pharos indicated.
The research company attributed the decline in monthly inflation statistics to the drop in food and beverage prices, as a result of the discounts’ wave on food commodities, in line with the end of 2017 and holiday season in December.
On Wednesday, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt’s annual inflation rate fell to 22.3% year-on-year in December 2017.
