Egypt’s inflation slows to 25.7% in July 

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CAIRO: Egypt’s annual urban consumer price inflation rate fell to 25.7% in July from 27.5% in June, a faster decline than analysts had forecast, national statistics agency CAPMAS said on Thursday. Monthly prices fell 0.4% in July from 1.6% in June. Food prices fell 0.3% in July but were still 28.5% higher than a year earlier. Egypt is one of the world’s largest importers of wheat, importing about 5.5 million tonnes a year, providing subsidized bread to millions of people.

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