Egypt’s core inflation decreases to 30.057 percent year on year in May

People buy bread at a bakery in Cairo, Egypt. (File Photo: Reuters)

Egypt’s core inflation eased to 30.57 percent year on year in May from 32.06 percent in April, the central bank said on Thursday.

Over the same period, annual urban consumer price inflation fell to 29.7 percent from 31.5 percent, official statistics agency CAPMAS said earlier on Thursday.

Egypt abandoned its currency peg to the US dollar on Nov. 3 in a dramatic move that has since seen the currency depreciate roughly by half.

Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49