inflation
The unemployment rate plunged by 7.7 percent from January to March 2020, she said, noting that the flow of foreign direct investments rose by 19 percent from July to December 2019.
Egypt managed to repay $35 billion in debt despite the economic repercussion of the coronavirus crisis, and provided 5 million jobs over the past five years, said governor of the Central Bank of Egypt (CBE).
The American news agency stated that consumer prices in urban parts of Egypt grew at the slowest annual pace since November as the global pandemic weighed on demand and food costs declined.
On a monthly basis, inflation recorded 107.8 points in July 2020, marking an increase of 0.2 percent compared to June 2020.
The cabinet attributed the decline of inflation to the decrease in food prices.
On a monthly basis, inflation recorded 107.5 points in June 2020, marking decrease of 0.1 percent compared to May 2020.
Core inflation discounts or strips out certain categories that are considered more volatile.
On a monthly basis, inflation recorded 107.7 points in May 2020, marking an increase of 0.1 percent compared to April 2020.
At the urban level, the annual inflation rate for April 2020 rose to 5.9 percent, up from 5.1 percent in March.
In Jan. 2020, Egypt's annual inflation reached 6.8 percent.
However, the report expected a 200-basis point cut before the end of 2020.
Egypt’s growth rate is expected to reach 5.8 percent and 5.9 percent in 2020 and 2021, respectively, up from 5.6 percent in fiscal year 2018/2019, Deutsche Bank expected.
Inflation remains within the Central Bank of Egypt’s (CBE) target range of 9 percent, plus or minus 3 percentage points.
On a monthly basis, inflation decreased 0.5 percent in November, recording 104.6 points, compared to 1 percent in October.
The Central Agency for Public Mobilization and Statistics (CAPMAS) said that the annual inflation rate dropped by 2.4 percent in October.
Shafei clarified in a statement that the rate of inflation in urban areas fell to 4.8 percent to the lowest level since November 2012.
Registering a fourth consecutive monthly decline, Egypt’s inflation rates opened speculation once again in September about the expectations of possible interest rate decisions during November.
Registering a fourth consecutive monthly decline, Egypt’s inflation rates opened speculation once again in September about the expectations of possible interest rate decisions during November.
"The slowdown in inflation is a key gain for the bank," according to Bloomberg.
On a monthly basis, inflation increased 0.7 percent in August, recording 314.8 points, compared to 312.5 points in July.