Doha: Egypt's annual inflation rate declined to 12.5 percent in February, compared to 23.2 percent in January.

According to Qatar News Agency, the Egyptian Central Agency for Public Mobilization and Statistics said in a statement on Monday that Egypt's overall consumer price index reached 246.8 points for February, contributing to a decrease in the annual inflation rate.

The statement attributed this decline to a decrease in consumer goods prices in addition to the stability of the prices of water and various home-related services, electricity, gas, and other fuel materials.

It also noted a monthly inflation decline of 1.4 percent in February, compared to 1.6 percent in January.