Egypt's Finance Minister Says Inflation Yet to Reach Its Peak

13 February 2017

Cairo — Egypt's finance minister Amr al-Garhy said inflation is expected to continue rising, reaching its peak sometime in the first quarter of the year, as a result of supply shocks following the pound flotation and the increase in fuel prices.

Egypt's official statistics agency said on Saturday that the annual urban consumer price inflation jumped to 28.1 per cent in Jan. from 23.3 per cent in December, its highest level since central bank records began in 2005.

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