Egypt's annual urban consumer price inflation accelerated to 16 pct in August

Egypt's annual urban consumer price inflation accelerated to 16 per cent in September from 14.24 per cent in August, the official statistics agency CAPMAS said on Wednesday.

Egypt has hiked fuel, electricity and transportation prices over the past few months to help meet the terms of a $12 billion IMF loan program it signed in late 2016 that includes deep cuts to energy subsidies and tax hikes.