Egypt annual inflation eases to 12.5 pct in April

CAIRO, May 9 (Xinhua) -- Egypt's annual inflation eased to 12.5 percent in April compared to 12.9 percent last year, official statistics agency said Thursday.

The annual urban consumer price inflation declined to 13 percent in April from 14.2 percent in March, according to the Central Agency for Public Mobilization and Statistics.

The inflation rate between January and April reached 13.1 percent, while the rate surged 0.4 percent in April compared to March.

Egypt has been implementing an International Monetary Fund-backed economic reform program since 2016 and saw unprecedented inflation in 2017.