Cairo: Egypt’s annual inflation rate dropped for the first time since March, offering a much needed respite from soaring prices as the country gears up for weakening its currency to secure a $12 billion (Dh44 billion) loan from the International Monetary Fund. Prices in urban parts of Egypt rose by 14.1 per cent in September compared to a year earlier, according to data from the state-run statistics agency CAPMAS. The rate was 15.5 per cent in August, the highest in at least seven years. Food and beverage prices, which account for the largest component of the basket of goods and services, climbed 14.8 per cent in September versus 19.3 per cent in August. The September inflation rate rose 1.2 per cent month-on-month, compared to 1.9 per cent in August.