Egypt’s core inflation edges up in March

12 Apr 2010

(MENAFN) Egypt’s statistics agency said that the country’s core annual inflation in the year to March edged up to 7.04 percent, compared with 6.9 percent in the year to February, Reuters reported.

Earlier, the state statistics agency said that urban inflation, most closely watched indicator of prices, had slowed to 12.2 percent year on year in March from 12.8 percent a month earlier.

A diesel shortage in March may have raised the cost of transportation, though the full effect might not be felt until next month, she said.

The central bank held its benchmark overnight interest rates on hold at its last meeting in March, the fourth pause since the bank began a series of rate cuts more than a year ago.

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