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Egypt Consumer Prices (May 2024)

Egypt’s headline inflation dropped back from 32.5% y/y in April to 28.1% y/y, the lowest outturn since the start of 2023. Inflation is likely to rise again in June and July due to government price hikes, particularly to baladi bread, but we expect the disinflation process to resume later in the year and into 2025.

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