June 10, 2018 / 6:28 AM / 5 months ago

Egypt's annual urban consumer price inflation decreases to 11.4 pct in May - CAPMAS

CAIRO, June 10 (Reuters) - Egypt’s annual urban consumer price inflation fell to 11.4 percent in May, down from 13.1 percent in April, the official statistics agency CAPMAS said on Sunday.

Inflation surged in 2017 on the back of economic reforms tied to a $12 billion IMF loan programme Egypt signed in late 2016 that includes deep cuts to energy subsidies and tax hikes.

Reporting by Sami Aboudi; editing by Nadine Awadallah

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