Egyptian inflation jumped to 12.3% y/y in May as the impact of March’s devaluation of the pound continued to feed through into price pressures, while a decision by the government to hike medicine prices last month also played a role. Today’s figures, coming alongside ongoing strains in the balance of payments, strengthen the case for an interest rate hike at next week’s MPC meeting.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services