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Egypt Macro Flash<br />
�CORE INFLATION SLOWS TO 7% Y-O-Y IN JUNE<br />
Source: CBE Press Release, July 10, <strong>2012</strong><br />
Headline CPI published by the Central Agency for Public Mobilization and Statistics (CAPMAS) on July 10,<br />
<strong>2012</strong>, declined by 0.55% (m/m) in <strong>June</strong> compared to a 0.24% (m/m) decline in May. The annual rate<br />
decelerated to 7.26% in <strong>June</strong> compared to 8.30% in May. In the meantime, core CPI computed by the Central<br />
Bank of Egypt (link here) increased by 0.28% (m/m) in <strong>June</strong> compared to a 0.52% (m/m) decline in May. The<br />
annual rate decelerated to 7.04% in <strong>June</strong> from 7.22% in May.