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Wednesday, 29 January 2020

Egypt's inflation rate increases by 0.5 percent

Egypt's total inflation rate recorded 2.7 percent in November, down from 15.6 percent in the same month in 2018

Doaa A.Moneim , Tuesday 10 Dec 2019
Egypt
(Reuters)
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Egypt's year-on-year inflation rate for consumer prices in urban areas has increased to 3.6 percent in November, up from 3.1 percent in October, with a total increase of 0.5 percent, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Tuesday.

Meanwhile, Egypt's total inflation rate recorded 2.7 percent in November, down from 15.6 percent in the same month in 2018.

Head of equity research at Pharos Holding Radwa El-Swaify told Ahram Online that the inflation rate is expected to drop to 0.5 percent in December, but the year-on-year rate it is expected to go up to 0.7 percent.

Regarding the anticipated interest rates that will be reviewed in the coming meeting of the Monetary Policy Committee (MPC) at the Central Bank of Egypt (CBE), scheduled to be held on 26 December, El-Swaify expects the rate to be kept at 12.25 percent due to the anticipated increase in the YoY inflation rate.

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