Arab Finance: Egypt’s annual core inflation rate hit 40.3% in May 2023, compared to 38.6% last April, the Central Bank of Egypt (CBE) announced in a press release on June 11th.

The monthly core consumer price index (CPI) inflation recorded 2.9% last May, compared to 1.6% in the same month of 2022 and 1.7% in April 2023, the CBE highlighted.

Data also showed that the annual headline urban inflation rate recorded 32.7% in May, compared to 30.6% in April.

On June 10th, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt's annual headline inflation rate climbed to 33.7% in May, compared to 15.3% in the same month of 2022.

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