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.
The Cabinet declared Monday that month-on-month inflation dropped for the first time in six months in spite of the continuing repercussions of the Russia-Ukraine War.
A decline in the inflation rate does not mean that prices have fallen, however, it does mean that prices have risen at a slower pace.
On a monthly basis, inflation recorded 130.2 points in May 2022, recording a 3.9 percent increase compared to April 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
This review shows indicators of Egypt’s economic growth rates before and after the Russian war on Ukraine.
The agency attributed the change in its outlook to the inflation in the food prices, saying that if the government could not mitigate such raises in prices, it would cause “social tensions,” despite the foreign financial support of the Gulf States Council (GCC) and the prospect of a new IMF program.
As for urban inflation, it surged in April to 13.1 percent, compared to 10.5 percent in March.
Mounting price pressures, slipping output expansion and sagging confidence will all pose a drag for most countries, according to the latest Brookings-FT tracking index.
On a monthly basis, inflation recorded 124.4 points in March 2022, recording a 2.4 percent increase compared to February 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
On a monthly basis, inflation recorded 121.4 points in February 2022, recording a 2 percent increase compared to January 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
Minister of Planning and Economic Development Hala al-Said made the statement in a press conference Tuesday.
On a monthly basis, inflation recorded 119.1 points in January 2022, recording a 1 percent increase compared to December 2021.
Annual urban consumer price inflation fell to 5.6% in November, on an annual basis, from 6.3% in October, the Central Agency for Public Mobilization and Statistics (CAPMAS) said.
On a monthly basis, inflation recorded 118 points in October 2021, marking an increase of 1.7 percent compared to September 2021.