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Egypt's inflation rate drops to 11 percent in April
A man counts his bills at a foreign exchange office in downtown Cairo June 5, 2014. REUTERS/Amr Abdallah Dalsh
CAIRO, May 10 (Aswat Masriya) - Egypt's inflation rate dropped to 11 percent in April year on year, compared to 11.8 percent in March, the Central Agency for Public Mobilisation and Statistics announced on Sunday.
Urban inflation also dropped to 11 percent, a decrease from last month's 11.5 percent.
Overall, inflation rose by 10.7 percent in the period from January to April of this year, compared to the same time in 2014.
Inflation increased last summer after the government reduced petroleum subsidies and introduced new taxes in July 2014, hiking fuel prices by up to 78 percent. The inflation rate peaked last October, standing at 11.8 percent.
