Egypt’s annual headline consumer price inflation (CPI) fell 1.7% in May 2018.

Egypt has made a “strong start” on its reform program, but high inflation threatens macroeconomic stability.

Tarek El Molla stated that there is no alternative to increasing fuel prices.

Egypt has reached the highest level of inflation in seven years in May, another challenge for policy makers trying to tackle a shortage of foreign currency that is slowing growth.

Algeria plans to issue local-currency debt as a source of financing to offset the collapse in world oil prices, which halved government's energy revenues last year.

Bahrain’s cabinet has approved a new pricing system for diesel and kerosene introducing a gradual rise of prices for domestic customers, set to take effect in January.

Egypt’s annual inflation decreased to hit 7.9% in August, down from 8.3% in July, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). The National explains that the current level of inflation is the lowest since 2013, remarking that the main cause was declining oil prices.

Further stabilization of oil prices is likely to help lower inflation in Russia, allowing the central bank to reduce rates at a faster pace, the World Bank said Monday as it raised the economic outlook for the country.

Iran is likely to abolish subsidised fuel allowances for motorists, an Oil Ministry adviser said on Saturday, in a move that will cut state spending but could also drive inflation and cause protests.

Despite a sizeable fiscal deficit this year and the next due to decline in oil prices, Oman is likely to avoid deep cuts in spending as the real GDP grows by 4% in 2015 before moderating to 3.7 per cent in 2016, a report said.