Egypt expects the monthly inflation rate to stabilize within four months at between 1-1.25%, Minister of Finance Amr El-Garhy says.
The monthly inflation rate in Egyptian cities fell to 0.8% in June from 1.7% in May, the official statistics agency CAPMAS says.
However, Egypt’s annual urban consumer price inflation rose in June to 29.8% from 29.7% in May.
Egypt’s inflation hit a three-decade high after the Central Bank of Egypt (CBE) floated the pound currency in November as part of the International Monetary Fund deal.