CAIRO – 10 March 2021: Egypt’s annual consumer price inflation stabilized at 4.9 percent in February 2021, marking the same rate of February 2020, state-statistics body said Wednesday. In January, inflation hit 4.8 percent, compared to 6.8 percent in the same month of prior year. On a monthly basis, inflation recorded 110.3 points in February 2021, marking an increase of 0.1 percent compared to January 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) said. The sustainable development plan for 2020/2021 expected the inflation rate to increase to 9.8 percent if coronavirus crisis continued until December 2020. Inflation remains within the Central Bank of Egypt’s (CBE) target range of 9 percent, plus or minus 3 percentage points, despite the precautionary measures taken aiming to curb the spread of coronavirus that are expected to raise the rate of inflation.

Source: Egypt Today March 10, 2021 11:15 UTC