Egypt’s annual headline inflation slows to 33.7% in December

CAIRO (Reuters) -Egypt’s annual urban consumer price inflation rate eased to 33.7% in December from 34.6% in November, data from statistics agency CAPMAS showed on Wednesday.

The figure was slightly higher than the median 33.4% forecast by 14 analysts.

Month-on-month, prices rose by 1.4% in December, up from 1.3% in November. Food prices jumped by 2.1% in December compared to 0.2% in November, but year-on-year rose by 60.5%.

The inflation rate has eased from a historic high of 38.0% in September, but analysts have flagged the risk of it accelerating again, especially if the government allows Egypt’s currency depreciate, as widely expected.

(Reporting by Jana Choukeir and Nadine Awadalla; Writing by Patrick Werr; Editing by Jacqueline Wong and Christopher Cushing)