{"id":646262,"date":"2017-06-11T04:13:44","date_gmt":"2017-06-11T04:13:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/annual-inflation-falls-to-29-7-in-may\/"},"modified":"2017-06-11T04:13:44","modified_gmt":"2017-06-11T04:13:44","slug":"annual-inflation-falls-to-29-7-in-may","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/annual-inflation-falls-to-29-7-in-may\/","title":{"rendered":"Annual inflation falls to 29.7% in May"},"content":{"rendered":"

<\/a> Inflation falls in May:<\/strong> Annual urban consumer headline inflation fell to 29.7% in May, down from 31.5%<\/a> in April, according to CAPMAS<\/a>, while monthly urban inflation rate was unchanged from April at 1.7%. Food price inflation eased slightly, dropping to 41.1% in May. Annual core inflation eased to 30.57% in May from 32.06% in April, going up by 1.99% on a monthly basis from 1.10% in April, according to the CBE<\/a>. A research note from Pharos Holding\u2019s Ramy Oraby notes that the easing is \u201cpartly due to the favorable base effect<\/strong> from the corresponding period last year.<\/p>\n

The drop in the headline annual rate was the first reversal since the EGP float last <\/strong>November<\/strong>, Tarek El Tablawy and Ahmed Feteha write in Bloomberg<\/a>. \u201cThe drop in the annual figure in May is probably temporary, and is mainly driven by the stability of the exchange rate used to calculate customs \u2026 The stagnation of the monthly rate, however, shows that inflationary pressures are still there,\u201d Arqaam Capital Senior Economist Reham El Desoki says. El Desoki expects says inflation could inch up again in June with the seasonal impact of Ramadan<\/strong> and could tick up again in July \u201cas a result of expected increases in electricity prices and the effect of the increase in the rate of the new value-added tax.\u201d The VAT is due to rise to 14% in 1 July from 13% today.<\/p>\n","protected":false},"excerpt":{"rendered":"

Inflation falls in May: Annual urban consumer headline inflation fell to 29.7% in May, down from 31.5% in April, according to CAPMAS, while monthly urban inflation rate was unchanged from April at 1.7%. Food price inflation eased slightly, dropping to 41.1% in May. Annual core inflation eased to 30.57% in May from 32.06% in April, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646262","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"57a4d8ae-5b46-4baf-8467-f8b96273dffd","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[646255],"teaser":"","voice_url":""},"yoast_head":"\nAnnual inflation falls to 29.7% in May - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/annual-inflation-falls-to-29-7-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Annual inflation falls to 29.7% in May\" \/>\n<meta property=\"og:description\" content=\"Inflation falls in May: Annual urban consumer headline inflation fell to 29.7% in May, down from 31.5% in April, according to CAPMAS, while monthly urban inflation rate was unchanged from April at 1.7%. 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