Egypt’s Inflation Rate Drops to 12.8% in February

Egypt's Inflation Rate Drops to 12.8% in February

The price inflation rate in Egyptian cities decreased to 12.8% in February from 24% in January as the nation achieved an important economic advancement. The Central Agency for Public Mobilization and Statistics links this rapid decrease to a base effect since price spikes from past two years now less impact overall inflation statistics.

In February consumer prices gained 1.4% compared to a 1.5% rise in January. Inflation rates have slowed down for the fourth time during the last seven months after starting to surge in August 2023. Victory in February prices happened mostly because vegetable prices dropped 8.2% while utilities including water changed little.

In 2018 fuel cost growth combined with multiple fare increases and major bread price elevation made up most of the price spikes. New inflation statistics indicate that Egypt’s economy is becoming more steady after years of price turbulence destroyed people’s buying abilities.

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Roshan Amiri is an advocate for the truth. He believes that it's important to speak out and fight for what's right, no matter what the cost. Amiri has dedicated his life to fighting for social justice and creating a better future for all.

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