Egypt inflation jumps to 7.3% in January, up from 5.9%

Egypt’s annual urban consumer price inflation quickened to 7.3 percent year-on-year in January, its highest since August 2019, up from 5.9 percent in December, data from the country’s statistics agency CAPMAS showed on Thursday. Prices climbed 0.9 percent month on month compared to a 0.08 percent drop in December, the agency said. The annual rate puts inflation near the higher end of the 5-9 percent target range set by the central bank, which kept its key interest rates unchanged during a regular monetary policy committee meeting a 3 February. The headline inflation number reflected “unfavoura…

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