Egypt's Nov inflation dips

Consumer inflation in Egypt fell to 20.9 percent in the year to November from 21.2 percent in the year to October, the state-run statistics agency CAPMAS said on Wednesday. Inflation in urban parts of the country rose a sliver to 20.3 percent in the year to November from 20.2 percent in October, while the rural inflation rate fell to 21.8 percent from 22.5 percent. Food prices nationwide fell 0.5 percent in the month to November, 0.2 percent in urban parts of the country and 0.8 percent in rural areas, the agency said. Many economists expect the central bank to ease interest rates over the next 12 months to help promote economic growth in the Arab country as global commodity prices fall. The bank raised rates six times over the past year to tame inflation. (Reuters)