Egypt's annual headline inflation recorded 4.9% in February, unchanged from the same month in 2020, according to a March 10th report by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The consumer price index signaled 110.3 points in February 2021, up by 0.1% from January when it recorded 4.8%.
The monthly rise was mainly caused by an increase of 1.6% in the alcohol and tobacco basket. This was despite a decline of 2.5% in the vegetable basket.
The annual urban inflation meanwhile accelerated to 4.5% in February, marking the highest rate in two months, Bloomberg cited official divs.
The Central Bank of Egypt will be revealing the next interest-rate decision on March 18th. Authorities have set an inflation target of 7%, plus or minus 2%, for the fourth quarter of 2022.
