CAIRO - Egypt's core annual inflation edged up to 6.5 percent year-on year in October from 6.3 percent in September, the central bank said on its website.

The core inflation figure excludes fruit and...

CAIRO - Egypt's core annual inflation edged up to 6.5 percent year-on year in October from 6.3 percent in September, the central bank said on its website. The core inflation figure excludes fruit and vegetables, as well as goods with regulated prices. "The rise is not alarming," Beltone analyst Reham ElDesoki wrote in an e-mail after the figure was released. "While the annual change in core inflation shows a rise from 6.3 percent in September to 6.5 percent in October, the monthly change has declined from 1 percent to 0.4 percent in October, reflecting a slower rise in prices," she wrote. The statistics agency earlier said consumer price inflation for urban areas, the most closely watched indicator, was 13.3 percent in the year to October versus 10.8 percent in September. The central bank started publishing its core inflation figure last month. Analysts said its publication would provide additional guidance on central bank monetary policy moves. The government told Reuters last month its target for core inflation was 6-8 percent. The central bank has not announced its "comfort zone" for inflation. The central bank kept key overnight interest rates steady on Thursday, saying the current level would support growth and control inflation in the medium term. The overnight lending rate is 9.75 percent and the deposit rate is 8.25 percent.   (Source: Arab Finance)