Inflation eases in November

Annual headline inflation dropped to 9.09 percent in November, according to calculations released today by the Central Bank of Egypt. In October, the Central Bank calculated annual inflation at 11.84 percent.

Core inflation, a measure which excludes items like food and energy that tend to change price rapidly, eased to 7.81 percent in November, down from 8.47 percent in October.

The bank has not yet released a full analysis of the figures, but its statistics suggest inflation has slowed for both fruits and vegetables and for regulated items. Prices for fruits and vegetables were 12 percent cheaper in November than October, and after posting an annual inflation growth rate above 22 percent in October, price inflation for fruits and vegetables slowed to six percent year-on-year in November.

These figures slightly contradict inflation numbers released today by state statistics agency CAPMAS.

According to CAPMAS, annual consumer price inflation eased to 8.5 percent in November, compared to 11.5 percent in October. The agency attributed the drop primarily to lower prices for vegetables, fruit and ready-made garments.