Furthermore, the monthly inflation rate for the total republic stood at 0.9% in November 2023, showcasing a positive trend in comparison to the 1.2% recorded in September 2023
Driven by declining food and beverage price inflation, Egypt’s urban consumer price inflation also dropped to 35.8 percent last month from 38 percent in September
Egypt’s annual inflation rate declined to 38 percent in September, from August’s recorded 39.7 percent, CAPMAS revealed
Participants in the National Dialogue's session on inflation and price hikes demanded Tuesday the detection of price manipulation and monopolistic practices.
Capital Economics projects that the Egyptian pound will depreciate to 35 per dollar by the close of 2023, marking a 12 percent devaluation from its current rate of 30.95 per dollar.
President Abdel Fatah al-Sisi held a meeting Sunday to learn about the updates of the country's economic performance which has been influenced by global challenges.
This is lower than the previously forecasted 20 percent, with AfDB pointing to “high food and nonfood prices and the devaluation of the Egyptian pound"
On a monthly basis, inflation recorded 166.5 points in March 2023, recording a 3.2 percent increase compared to March 2023, according to the state-statistic body’s data.
According to the state-statistic body’s data, the annual inflation rate rose to 32.9 percent in February 2023, compared to 26.5 percent in January 2023, and 9 percent in February 2022.
According to the state-statistic body’s data, the annual inflation rate rose to 26.5 percent in January 2023, compared to 8 percent in the same month of prior year.
The right monetary and fiscal policies are the only way to safety
The CBE set an average rate of 5 percent (±2 percent) for the targeted inflation rates during the fourth quarter of 2026.
This is the highest level of inflation recorded in Egypt since December 2017, when it recorded 21.9 percent, a month after the Central Bank of Egypt, led by its former president Tarek Amer, liberalized the exchange rate of the pound in November 2017.
On a monthly basis, inflation recorded 137.2 points in October 2022, recording a 2.5 percent increase compared to September 2022, the CAPMAS said.
The CBE has decided to set the overnight lending rate at 14.25 percent and the overnight deposit rate at 13.25 percent.
The Egyptian Economic Conference 2022 will kick off on Sunday to discuss the situation and future of Egypt’s economy amid consecutive economic crises across the world.
The annual urban consumer inflation in Egypt is at its highest of 15 percent in four years, according to Monday data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
On a monthly basis, inflation recorded 131.7 points in August 2022, recording a 0.5 percent increase compared to July 2022, the CAPMAS said.
The Egyptian government issued a decree, per which farmers shall deliver barley rice during the current season and until mid-December, to make it available for the public on the ration cards.
The annual urban inflation rate also hiked in July to 13.6 percent, compared to 13.2 percent in June, according to the state-statistic body’s data.