CAIRO – Egypt’s annual urban consumer price inflation eased slightly in October to 30.8 percent from 31.6 percent in September, the official CAPMAS statistics agency said on Thursday.
Inflation soared to a record high in July on the back of fuel and energy subsidy cuts by the government.
Import-dependant Egypt abandoned its currency peg to the U.S. dollar last November and the currency has depreciated roughly by half since then.(Reuters)
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