Egypt’s inflation decreased for a fourth straight month following a drop in global commodity prices, making it more likely the central bank will lower interest rates from a record high.  The countrywide inflation rate in the world’s largest wheat importer (prices of which have fallen 32% in the past year) fell to 18.7% in December from 20.9% the previous month, which is still far higher than the government’s target range.  Egypt’s central bank monetary policy committee will meet on February 12.

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