Egypt’s annual urban consumer price inflation falls to 12.0 pct in Dec – CAPMAS

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Customers buy handmade sweets at a street market ahead of Mawlid al-Nabi, the birthday of Prophet Mohammad, in Sayeda Zainab neighbourhood in Cairo, Egypt November 18, 2018. REUTERS/Mohamed Abd El Ghany

CAIRO (Reuters) – Egypt’s annual urban consumer price inflation decreased to 12.0 percent in December from 15.7 pct in November, the official statistics agency CAPMAS said on Thursday.

Inflation has cooled steadily in recent months after an increase in fuel, electricity and transportation prices earlier this year had sent the rate up to a high of 17.7 percent in October.

Egypt has implemented a series of tough austerity measures to help meet the terms of a $12 billion IMF loan programme it signed in late 2016.

Reporting by Nadine Awadalla; Editing by Sunil Nair

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