July 10, 2017 / 11:25 AM / a month ago

Egypt's core inflation increases to 31.95 pct yr/yr in June -c.bank

CAIRO, July 10 (Reuters) - Egypt's core inflation rose to 31.95 percent year on year in June from 30.57 percent in May, the central bank said on Monday.

Over the same period, annual urban consumer price inflation rose slightly to 29.8 percent from 29.7 percent, official statistics agency CAPMAS said earlier on Monday.

Egypt abandoned its currency peg to the U.S. dollar on Nov. 3 in a dramatic move that has since seen the currency depreciate roughly by half.

Egypt hiked fuel prices on June 29 by up to 50 percent to help meet the terms of a $12-billion International Monetary Fund loan agreement. (Reporting by Amina Ismail; Editing by Andrew Heavens)

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