Egypt’s core annual inflation accelerated to 9.65 percent in the year to December, the central bank said on Monday.
The central bank revised upwards the November core annual inflation to 8.93 percent, and the October rate to 8.11 percent to reflect the higher weight of paid services in the core index, the bank said in a statement.
It previously said November core annual inflation was 8.58 percent. Core inflation strips out subsidized goods and volatile items including fruit and vegetables.
Urban inflation inched higher in the year to December, but the pace of increase is unlikely to prompt the central bank to raise interest rates this month to curb price growth.
Urban consumer inflation edged up to 10.3 percent in the 12 months to December from 10.2 percent in November, Egypt’s state statistics agency CAPMAS reported on its website on Monday.
Prices of food and beverages, which account for 44 percent of the weighting of the basket Egypt uses to measure inflation, accelerated year-on-year to 17.2 percent in December from 17.1 percent in November.
