Egypt year-on-year core inflation to Sept 10.97 pct

Reuters
1 Min Read

Egypt’s core annual inflation surged to 10.97 percent in the year to September from 8.2 percent in August, the central bank said on its website on Sunday.

Four analysts polled by Reuters had forecast a rise to an average of 8.46 percent, its highest since April 2009. Forecasts ranged between 7.7 percent and 9.8 percent.

Core inflation strips out subsidized goods and volatile items including fruit and vegetables.

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