The clap:
Inflation in Egypt fell for the third consecutive month in May, cooling to 28.1% YoY from 32.5% in April, according to data from the Central Agency for Public Mobilization and Statistics issued on Monday.
A fall in our CPI:
On a monthly basis, consumer prices shrank 0.7% last month, the first decline in prices since June 2022, and the quickest pace of contraction since mid-2019. This compares to a rise in prices of 1.1% last April.
Refresher, inflation is expected to cool further this year:
From a forecast of 35.7% in FY 2023-24, headline inflation is expected to average 17.9% over 2024-2025, according to the cabinet. For FY 2024-25, Egypt is forecasting economic growth at an additional 1.3% clip from the 2.9% estimate the year prior.
