The Central Bank of Egypt’s decision is in line with analysts’ expectations for interest rate stabilization after the core inflation rate (which excludes fuel and some volatile foodstuffs) declined in April for the second straight month since peaking in February.
The annual core inflation rate continued to fall for the second consecutive month last April to 38.6%, against 39.5% in March, after reaching a peak of 40.26% in February.
The annual rate of consumer price inflation announced by the Central Agency for Public Mobilization and Statistics also fell in April to 30.6%, after hitting 32.7% in March, near its high. historic, recorded in July 2017, when it reached 32.95 percent.
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