inflation
Inflation recorded 110.2 points in January 2021, marking a decrease of 0.4 percent compared to December 2020.
The report included infographics highlighting the economic reform program's success in slashing the annual inflation rate and keeping it within the target range of the Central Bank of Egypt (CBE).
In December 2020, inflation hit 6 percent, compared to 6.8 percent in the same month of prior year.
The discount rate was also cut by 50 basis points to 8.75 percent.
On a monthly basis, inflation recorded 109.9 points in October 2020, marking an increase of 2.3 percent compared to September 2020,
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.
