November 9, 2019 / 9:18 AM / 10 days ago

Egypt's annual urban consumer price inflation 3.1% in October, from 4.8% in Sept

CAIRO (Reuters) - Egypt’s annual urban consumer price inflation fell to 3.1% in October, from 4.8% in September, the country’s official statistics agency CAPMAS said on Saturday.

Egypt is approaching the end of an IMF-backed economic reform programme that during 2017 saw the annual inflation rate rise to 33%. The country hiked domestic fuel prices in July as part of the terms of the agreement.

Reporting by Nadine Awadalla; Writing by Amina Ismail; Editing by Alexander Smith

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