Rate of Inflation in Egypt Falls to 5.1% YoY in 2020: CAPMAS

Data from the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the inflation rate in Egypt declined to 5.1% year-on-year (YoY) in 2020, as against 8.5% YoY recorded in 2019. For the month of December 2020, annual inflation stood at 6.0% YoY compared to 6.8% YoY in December 2019. Meanwhile, Egypt’s consumer price index touched 110.6 points in December 2020, down 0.5% month-on-month.

CAPMAS noted that the decline was due to declines in the prices of vegetables (down 10.1% YoY), fish and seafood (-0.6% YoY), meat and poultry (-0.2% YoY), milk, cheese and eggs (-0.1% YoY).

According to the Central Bank of Egypt (CBE), the rise in inflation in November 2020 resulted from a temporary supply shock in the price of some vegetables, co...