Egyptian inflation fell to 11.7 pct yr/yr in April

CAIRO: Consumer inflation in Egypt fell to 11.7 percent in the year to April, from 12.8 percent in March, Economic Development Minister of State Osman Mohamed Osma said on Thursday, quoted by the state news agency Mena. The consumer price index rose 0.3 percent in April, he said. In April 2006, after an outbreak of bird flu hit supplies of animal protein, prices rose 1.4 percent in the month. The new inflation rate is the lowest year-on-year rate since September 2006, when it stood at 9.6 percent. The government has been saying for months that inflation has peaked and is about to fall.