Egypt's annual urban consumer price inflation unchanged at 12.3% in December

CAIRO, Jan 10 (Reuters) -

• Egypt's annual urban consumer inflation was unchanged at 12.3% in December from November, Egypt's statistics agency CAPMAS said on Saturday.

• Month-on-month, urban consumer prices rose by 0.2% in December, CAPMAS said. Food and beverage prices rose by an annual 1.5%, but dropped by a monthly 0.7%.

• A Reuters poll on Wednesday predicted headline inflation would inch higher to 12.5% in December given that food prices, a major part of the inflation basket, remained relatively stable.

• In November, inflation fell unexpectedly after a month-on-month drop in food prices.

• Annual inflation has plunged from a record high of 38% in September 2023, helped by an $8 billion financial support package signed with the IMF in March 2024.