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Egypt Consumer Prices (Aug.)

Egypt’s headline inflation rate jumped to a near-four-year high of 14.6% y/y in August as the impact of the weaker pound continued to filtered through. Inflation is likely to rise a little further over the rest of this year and with the pound set to be allowed to depreciate at a faster rate too, we think this will prompt a further 150bp of interest rate hikes, to 12.75%.

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