Annual urban consumer price inflation in Egypt decreases to 12.0 pct in Dec

Egypt's annual urban consumer price inflation decreased to 12.0 per cent in December from 15.7 pct in November, the official statistics agency CAPMAS said on Thursday. Inflation has cooled steadily in recent months after an increase in fuel, electricity and transportation prices earlier this year had sent the rate up to a high of 17.7 per cent in October. Egypt has implemented a series of tough austerity measures to help meet the terms of a $12 billion IMF loan programme it signed in late 2016.  

(With inputs from agencies.)