Cairo: Egypt’s inflation is expected to fall below 20 per cent next month and to 10 to 12 per cent during 2018, Finance Minister Amr El Garhy said on Wednesday. Annual urban consumer price inflation fell to 21.9 per cent in December from 26 per cent in November, the official statistics agency, CAPMAS, said earlier on Wednesday. “It’s a better than good indication and puts us on a good path,” said Garhy. He expected the rate to fall below 10 per cent in 2019. Inflation has climbed since Egypt floated its currency, the pound, in November 2016, reaching a record high of 35 per cent in July after energy subsidies were cut. It has gradually eased since July.