Inflation Data
The annual inflation rate stood at 25.6 percent in August 2024, a decrease from 39.7 percent recorded in the same month the prior year.
Compared to April’s 47.4, the country’s PMI for May showed a solid trajectory towards growth, barely under the 50 threshold for growth
CAPMAS further reported that the monthly inflation rate for February 2024 soared to 11.0 percent, compared to 1.7 percent in January 2024
Annual urban consumer price inflation (CPI) fell to 29.8 percent in January, dropping from 33.7 percent in December, wrote CAPMAS in its monthly bulletin
The latest data reveals a slowdown compared to the 2.9 percent growth witnessed in the fourth quarter of the fiscal year 2022/2023.
This leaves the overnight deposit rate at 19.25 percent, the overnight lending rate at 20.25 percent, the rate of the main operation at 19.75 percent, and the discount rate at 19.75 percent.
According to a recent Reuters poll involving 14 financial analysts, the majority of the analysts suggest that the CBE will maintain interest rates
