Egyptian urban inflation accelerated for a fourth month on soaring food costs, and looks set for further rises in 2022 when the impact from the recent dramatic devaluation of the pound filters through. Photographer: Chedly Ben Ibrahim/Bloomberg, Meta to Cut 11,000 Jobs; Zuckerberg Says I Got This Wrong, Amazon Becomes Worlds First Public Company to Lose$1 Trillion in Market Value, Stocks Rattled by Crypto, Earnings Woes Before CPI: Markets Wrap. The report reviewed the evolution of the average annual inflation rate during the period from 2006 to 2020, indicating that it reached 9.2% in 2019, and 14.4% in 2018, then inflation increased significantly to register 29.5% in 2017 after the liberalization of the exchange rate. Is The Blind Date Show Opening Conversations on Egypts Dating Culture? October 10, 2022. Egypt's central bank said that it raised key interest rates by 2 per cent in a bid to combat the country's surging inflation. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The CAPMAS attributed the accelerated annual inflation to the year-on-year (YoY) surge in prices of the food and beverage segment by 23.9%, the alcoholic . The percentage exceeds the Central Bank of Egypt's (CBE) initial prediction, as have other inflation rates. This suggests it is cheaper to buy locally-made Ghanaian products. The report attributed the drop in the average annual inflation . Food Inflation in Egypt increased by 21.7 % in September 2022 over the same month in the previous year. Why do Egyptians Gasp While Preparing Molokhiya? Core inflation climbed to an annual 18.0% in September from 16.7% the prior month. Inflation Rates; Exchange Rates; Official Exchange Rates; Liquidity Data; Discount Rates; Daily Interbank Rates & Volumes; Bi-Weekly Interbank Rates & Volumes; Monthly Average Interest Rates; EGP T-Bills Secondary Market; Time Series; At current inflation levels, Egypt's real interest rates are in negative territory, Dubai's largest lender Emirates NBD said. Google+, Copyright: 2022. Egyptsinflation rate quickened to 16.2% on an annual basis last month. Read more Egypt inflation rate for 2021 was 5.55%, a 0.5% increase from 2020. Inflation Rates; Exchange Rates; Official Exchange Rates; Liquidity Data; Discount Rates; Daily Interbank Rates & Volumes; Bi-Weekly Interbank Rates & Volumes; Monthly Average Interest Rates; EGP T-Bills Secondary Market; Time Series; Looking at the details of the release, prices for transportation rose at a marginally brisker rate compared to the previous month's reading, which more than offset prices for food and non-alcoholic beverages increasing at a weaker rate in September. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. Please check your download folder. Egypt's projected growth rate is the highest among oil importers in the Middle East region. Egypt inflation rate for 2019 was 9.15%, a 5.25% decline from 2018. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. source: CAPMAS, Egypt 1Y 5Y 10Y 25Y MAX Chart Compare Export API Embed Egypt Core Inflation Rate Our panelists see inflation averaging 10.7% in CY 2022, which is up 1.8 percentage points from last month's forecast, and 8.9% in CY 2023. With the governments recent restrictions on imports, limiting resources and commodities, consumer prices have soared from fast food to fuel. Online Store Take-profit.org, 2022 | All rights reserved. Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region. The countrys annual urban inflation rate increased to 15 percent in September, which was 14.6 percent in August. The report, meanwhile, indicated that the annual urban inflation rate hit - 0.1% in June 2022, compared to 1.1% in last May and 3.3% in last April. Egypt: Inflation comes in at near four-year high in September. The annual urban inflation rate rose to 15 percent in September . After maintaining interest rates in September 2022, Egyptians tensely await the CBEs next Monetary Policy Committee next meeting early in November. CAIRO (Reuters) - Egypt's annual urban consumer inflation accelerated faster than expected in October, climbing to a four-year high of 16.2%, data from the statistics agency CAPMAS showed on Thursday. The IMF has revised its projections for Egypt's real GDP growth in 2022 by 0.3% to reach 5.9%, up from 5.6% expected in January, before slowing down to 5% in 2023, the Fund announced on April 19. 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LinkedIn A Reuters poll of nine economists had expected inflation to come in at 14.7% and core inflation at 17.0%. Faith, Law, and Society: Understanding Christian Divorce in Egypt, No Cheaper Options: Low-Income Families Struggling in Egypts Economy. The maximum level was 113 index points and minimum was 0.4 index points. Egypt inflation rate for 2020 was 5.04%, a 4.11% decline from 2019. Egypt Core Inflation Rate - October 2022 Data - 2005-2021 Historical Egypt Core Inflation Rate Egypt's annual core inflation quickened to 18% in September of 2022, the highest since December of 2017, from 16.7% the month before. Historical Data (index points) by years Data Period Date Historical Chart by presidents (index points) Abdel Fattah The maximum level was 9.93 % and minimum was -7 %. Egypt Inflation Rate Beats Estimates The annual urban inflation rate in Egypt increased to 14.6% in August of 2022 from 13.6% in the previous month and beating market expectations of 14.4%. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. China is investing in and developing projects across the world - how are those moving forward and are they on course to deliver China's goal of becoming the primary global power by 2049. Miscellaneous Goods and Services account for 3.7 percent, Communications 3.1 percent, Recreation and Culture 2.4 percent and Tobacco and Related Products 2.2 percent. Consumer inflation is a term that signifies the measured price increase of goods and services over a studied period of time. Egypts consumer inflation rate has become increasingly tangible over the past months. The inflation rate for consumer prices in Egypt moved over the past 61 years between -3.0% and 29.5%. Inflation in urban parts of Egypt accelerated in October to a four year high, pulled ahead by a rise in food prices and reflecting continued pressure from Russia's invasion of the Ukraine. Inflation Rate in Egypt increased by 15 % in September 2022 over the same month in the previous year. Causes And Effects Of Inflation In Egypt 865 Words4 Pages What are the causes and effects of inflation and how to solve this issue in Egypt? Subscribe to the Egyptian Streets weekly newsletter! The rise in the inflation rate was driven by the prices of foodstuffs, according to data from Central Agency for Public Mobilization and Statistics (CAPMAS). The maximum level was 35.1 % and minimum was -4.2 %. August's result was the highest inflation rate since November 2018. Inflation in urban parts of Egypt accelerated at the fastest pace in almost four years, in another sign that consumers in the most populous Arab country can expect little respite from higher. 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A year prior, in August 2021, the number was at 6.4 percent. Egypt Business Directory | 11.10.2020 CAPMAS For the third month in a row, Egypt's inflation continued to decline reaching 3.3% down from 3.6% in August. License : CC BY-4.0. The Egyptian government has been more cautious; it . Inflation came in at 15.1% in September, which was up from Augusts 14.6%, moving further above the upper bound of the Central Banks 5.09.0% target bandwhere it has been for the past seven months. Finally, consumer prices increased 1.61% over the previous month in September, picking up from the 0.85% rise seen in August. During 2011-2015, the Egyptian pound depreciated by an average of seven percent a year despite serious political unrest and severe balance of payments pressures. Inflation increased to 15% year-on-year from 14.6% in August, according to CAPMAS data. Egypt's Prime Minister Mostafa Madbouly affirmed on Sunday that Egypt prioritises curbing inflation over the issue of exchange rate, stressing that the devaluation of the Egyptian pound does not . Accordingly, the trend pointed up, with annual average inflation coming in at 7.1% in April (March: 6.3%). All Rights Reserved. The proximate cause of this sharp increase was the exchange rate. Google+, Facebook Consumer Price Index in Egypt increased to 133 index points in September 2022. The Laspeyres formula is generally used. At its 22 September monetary policy meeting, the Central Bank of Egypt (CBE) decided to maintain all of its rates unchanged once again, mirroring its June and August decisions. This means there will be 29 million families in 2025, compared to about 27 million families in 2021. For What? September's uptick was the sharpest increase in prices since April. (Reuters) Cairo - Asharq Al-Awsat. British CEOs Snared Big Bonuses. The percentage exceeds the Central Bank of Egypts (CBE) initial prediction, as have other inflation rates. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. The Laspeyres formula is generally used. Download Historical Data A year prior, in August 2021, the number was at 6.4 percent. The maximum level was 43.61 % and minimum was -4.8 %. Egypt's central bank said that it raised key interest rates by 2 per cent in a bid to combat the country's surging inflation. Meanwhile, core inflation rose to 18.0% in September, from Augusts 16.7%, marking the highest rate since December 2017. The inflation rate (consumer prices) in Egypt rose last July to the highest level since last December 2020. Twitter Client Log In, Facebook Forecast as of 26.08.2022, EURUSD: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, USDCHF: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, Forex Technical Analysis & Forecast 26.08.2022, The Yen is recovering. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Data published Monthly by Central Agency for Public Mobilization and Statistics. Egypts annual urban consumer inflation has spiked to 15 percent, its highest in four years, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS) on 10 October 2022. During the observation period from 1960 to 2021, the average inflation rate was 9.8% per year. By Nada Ali On Nov 10, 2022 Egypt's annual inflation rate witnessed successive increase of 16.2 percent in October from 15 percent last month, according to the state-run statistics agency CAPMAS said on Thursday. How to compare Forex brokers spreads and swaps? Vegetable vendor - FILE. CAIRO - 10 October 2022: The annual urban consumer inflation in Egypt is at its highest of 15 percent in four years, exceeding the target of the Central Bank, according to Monday data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
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