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. Click on the button below to get started. FILE - CBE. The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has increased the key interest rates by two per cent (200 bps) to reach 13.25 per cent, 14.25 per cent, 13.75 per cent, and 13.57 per cent for the . 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. Credit research agency Fitch Solutions expected Egypt's inflation rate to peak close to 18% in December and "remain in double digits at least until July 2023", averaging 11.2% next year, according to the note of 19 October. The maximum level was 35.1 % and minimum was -4.2 %. Please check your download folder. The Egyptian government has been more cautious; it . Inflation, consumer prices (annual %) - Egypt, Arab Rep. International Monetary Fund, International Financial Statistics and data files. 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. The Ukrainian war caused an increase in costs of goods which also caused the interest rates in the country to rise. Label. Historical Data (index points) by years Data Period Date Historical Chart by presidents (index points) Abdel Fattah CAIRO - 27 October 2022: Economic and banking experts underlined that decisions taken by the Central Bank of Egypt (CBE) on raising interest, lending and deposit rates are meant to curb upping inflation rate and maintain a stable exchange rate. XAUUSD: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, WTI Crude Oil: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, USDJPY: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, GBPUSD: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, Gold wants a drama. (Reuters) Cairo - Asharq Al-Awsat. The inflation rate (consumer prices) in Egypt rose last July to the highest level since last December 2020. Twitter This is country's highest inflation rate since November 2018. The CBE, however, predicts that the percentage will begin declining during the first quarter of 2023. Year-on-year inflation increased to its highest since October 2018, when it hit 17.68%, from 15.0% in September. October 10, 2022. 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. About 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%. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Egypts Consumer Inflation Hits 15%, Highest in 4 Years. Get a sample report showing our regional, country and commoditiesdata and analysis. The maximum level was 113 index points and minimum was 0.4 index points. 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 . Forecast as of 26.08.2022, Murrey Math Lines 26.08.2022 (Brent, S&P 500), List of countries with highest gold reserves, TOP countries with the highest level of unemployment, How to find the best FX broker for trading in 2020. Inflation Rate in Egypt increased by 1.6 % in September 2022 over the previous month. 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. The inflation rate sped up from August's 14.6% year on year, according to CAPMAS data, to the highest level since November 2018, when it hit 15.7%. September's uptick was the sharpest increase in prices since April. Overall, the price increase was 26,457.57%. Take-profit.org, 2022 | All rights reserved. When hes not working, you can find him playing chess, supporting Chelsea, or walking his dog. The previous figure highlights the inflation rates in Egypt from the year 2010 to 2020. The Central Bank of Egypt increased its benchmark overnight deposit rate by 200 basis points to 11.25 per cent in May, taking the total to 300bps. Hear the latest economic, business and market news, as well as global, national, and local news. Overview for 26.08.2022, USDCAD: Elliott wave analysis and forecast for 26.08.2022 02.09.2022, The cryptocurrency market digest (BTC). [] add to that list Nadeen Ashraf. Data published Monthly by Central Agency for Public Mobilization and Statistics. Inflation Rate in Egypt increased by 15 % in September 2022 over the same month in the previous year. The. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. For 2021, an inflation rate of 5.5% was calculated. External Position of Egyptian Economy; Annual Report; SDDS; Statistics. How to compare Forex brokers spreads and swaps? If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. The annual urban inflation rate rose to 15 percent in September . 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. 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. LinkedIn Egypt inflation rate for 2018 was 14.40%, a 15.11% decline from 2017. 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. External Position of Egyptian Economy; Annual Report; SDDS; Statistics. Egypt inflation rate for 2020 was 5.04%, a 4.11% decline from 2019. After maintaining interest rates in September 2022, Egyptians tensely await the CBEs next Monetary Policy Committee next meeting early in November. This increase has underlined the impact of the Russian-Ukrainian war as the dollar rose against the local currency. LinkedIn 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. 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 | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Egypt: PMI rises to eight-month high in October; conditions still deteriorate sharply, Egypt: Central Bank holds emergency meeting and delivers a 200 basis point hike in October, Egypt: Inflation comes in at near four-year high in September, Egypt: PMI is unchanged in September; conditions continue to deteriorate, Egypt: Central Bank surprises markets again by holding fire in September, Inflation Rate (CPI, annual variation in %). 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. Overview for 26.08.2022, Will Euro be saved? 5 years of economic forecasts for more than 30 economic indicators. All Rights Reserved. The Laspeyres formula is generally used. The overall annual inflation rate, on the other hand, remains the same between August and September both at 15.3 percent. Finally, core inflation rose to 11.9% in April, from the previous month's 10.1%. Line Bar Map. Fitch Solutions also expects the growth of Egyptian household income driven by economic growth and the stability of the inflation rate, as well as a decrease in the increase rate in the number of families until 2025 from previous years. During the observation period from 1960 to 2021, the average inflation rate was 9.8% per year. Egypt - Inflation Inflation comes in at highest level since November 2018 in August Inflation came in at 14.6% in August, up from July's 13.6%, moving further above the upper bound of the Central Bank's 5.0-9.0% target bandwhere it has been for the past six months. The twelve month inflation rate rose from ten percent in January 2016 to over thirty percent in April 2017. 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. 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. Egypts consumer inflation rate has become increasingly tangible over the past months. Furthermore, the agency said that the consumer price index nationwide amounted to 133.8 points for September 2022 an increase of . 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; 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. Food Inflation in Egypt increased by 21.7 % in September 2022 over the same month in the previous year. The S&P Global Purchasing Managers Index (PMI), which measures business activity in the non-oil private sector, inched up to an eight-month high of 47.7 in October, increasing marginally from Septembers 47.6. The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) on Monday revealed that the monthly inflation rate went down 0.2 percent in December 2021 compared with the previous month, while the annual inflation rate went up by 0.5 percent. 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. Why do Egyptians Gasp While Preparing Molokhiya? It is evident that inflation r eached it s peak 23.53% in the year 2017 and this is due to the devaluation . 2019 Egyptian Streets. 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? The proximate cause of this sharp increase was the exchange rate. Our panelists see inflation averaging 13.0% in CY 2022, which is down 0.1 percentage points from last months forecast, and 9.7% in CY 2023. 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. In August, that number was at 16.7 percent. 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. The percentage exceeds the Central Bank of Egypts (CBE) initial prediction, as have other inflation rates. On 27 October, the Central Bank of Egypt (CBE) held an out-of-schedule emergency monetary policy meeting. License : CC BY-4.0. Subscribe to the Egyptian Streets weekly newsletter! Ghana also captures the inflation rate for locally produced items and confirmed an inflation rate of 39.1% compared to 43.7% for currency-induced imported items. The report attributed the drop in the average annual inflation . Core inflation climbed to an annual 18.0% in September from 16.7% the prior month. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Subscribe to the fastest growing newsletter in Egypt. A year prior, in August 2021, the number was at 6.4 percent. The yearly core inflation rate, which measures rising prices in goods and services excluding food and energy, leaped to 18 percent in September. 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 data, which was provided by the Central Agency for Public Mobilization and Statistics (CAPMAS), further detailed that Egypt's urban areas are currently suffering from a 13.1 percent inflation rate. Twitter Inflation in Egypt rose to 13% in June 2022 from 11% in April 2022, after only seeing an inflation rate of 4.8% at the end of 2021. 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. Protesters at COP27 Wear White in Solidarity with Political Prisoners, Glitz and Glamour: Cairo International Film Festival Keeping Strong 46 Years Later, Egyptian MP Removed From Conference Hall at COP27 for Disrupting Panel, Human Rights Watch and Mada Masr Websites Unblocked in Egypt, President El-Sisi Meets UK, France and Italy Leaders at COP27, Draft Bill for Binding Climate Neutrality Submitted to Egyptian Parliament. 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. The percentage exceeds the Central Bank of Egypt's (CBE) initial prediction, as have other inflation rates. Accordingly, the trend pointed up, with annual average inflation coming in at 7.1% in April (March: 6.3%). Inflation increased to 15% year-on-year from 14.6% in August, according to CAPMAS data. Egypt inflation rate for 2019 was 9.15%, a 5.25% decline from 2018. August's result was the highest inflation rate since November 2018. 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. 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; These interest rates were already some of the highest in the world before the increase. This means there will be 29 million families in 2025, compared to about 27 million families in 2021. The country's core inflation rate, which strips out food, rose by 37.8% year on year compared to 36.8% the year before. The report attributed the decrease in inflation to the decline in the prices of fruits and vegetables during June 2022. Latest Updates The annual. The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE . 2017 saw the Egyptian inflation rate skyrocket from 10.2 percent in 2016 to more than double that at 23.5 percent. 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. Read more Client Log In, Facebook 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. It means that the Egyptian pound has no value. The maximum level was 113 index points and minimum was 0.4 index points. 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. At current inflation levels, Egypt's real interest rates are in negative territory, Dubai's largest lender Emirates NBD said. Yet Egyptians continue to brace themselves for further economic impacts, as a lifeline loan agreement with the International Monetary Fund (IMF) is yet to arrive. The inflation rate for all of Egypt was at 15.3% in September. Vegetable vendor - FILE. British CEOs Snared Big Bonuses. On the side, Shereif works as a communications associate for a local consultancy. Sign up for our Middle East newsletter and follow us @middleeast fornews on the region. Is The Blind Date Show Opening Conversations on Egypts Dating Culture? Catch up on the latest news, arts & culture headlines, exclusive features and more stories that matter, delivered straight to your inbox by clicking here. 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Faith, Law, and Society: Understanding Christian Divorce in Egypt, No Cheaper Options: Low-Income Families Struggling in Egypts Economy. Egyptsinflation rate quickened to 16.2% on an annual basis last month. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. My Cart Egypt's projected growth rate is the highest among oil importers in the Middle East region. The S&P Global Purchasing Managers Index (PMI), which measures business activity in the non-oil private sector, was unchanged at August's six-month high of 47.6 in September. Meanwhile, core inflation rose to 18.0% in September, from Augusts 16.7%, marking the highest rate since December 2017. The maximum level was 9.93 % and minimum was -7 %. The agency added: With a deep interest in politics and society, Shereif is a journalist that chronicles Egypts ever-changing political climate aided by his bachelors in Political Science and his ongoing masters in Strategic Public Relations. The CBE has decided to set the overnight lending rate at 14.25 percent and the overnight . The country's annual urban inflation rate increased to 15 percent in September, which was 14.6 percent in August. Google+, Facebook Google+, Copyright: 2022. The maximum level was 43.61 % and minimum was -4.8 %. Let's Try Again. With the governments recent restrictions on imports, limiting resources and commodities, consumer prices have soared from fast food to fuel. Egypt's annual urban consumer inflation rose to 15% in September, its highest in four years, data from the country's statistics agency CAPMAS showed on Monday. For What? 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. A Reuters poll of nine economists had expected inflation to come in at 14.7% and core inflation at 17.0%. 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). 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. According to its recent forecasts, the International Monetary Fund (IMF) expects Egypt's inflation rate to accelerate to 6.3 percent in 2022, having predicted the rate to reach 4.5 percent in 2021. 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). We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. As a college. Download Historical Data Ever since, inflation has recovered only slowly, although projections today. A year prior, in August 2021, the number was at 6.4 percent. Accordingly, the trend pointed up, with annual average inflation coming in at 10.6% in September (August: 9.9%). The inflation rate for consumer prices in Egypt moved over the past 61 years between -3.0% and 29.5%. Consumer Price Index in Egypt increased to 133 index points in September 2022. September's figure represented the highest inflation rate since November 2018. 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According to the data, the inflation rate accelerated in July to 5.4%, [] 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%. Arab Finance: Egypt's annual headline inflation rate rose to 16.3% in October 2022, compared to 7.3% in the same month of 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on November 10th.. Consumer inflation is a term that signifies the measured price increase of goods and services over a studied period of time. Egypt: Inflation comes in at near four-year high in September. Please check your download folder. The countrys annual urban inflation rate increased to 15 percent in September, which was 14.6 percent in August. Consumer Price Index in Egypt increased to 133 index points in September 2022. Data published Monthly by Central Agency for Public Mobilization and Statistics. The annual urban inflation rate in Egypt rose to 16.2% in October of 2022 from 15.0% in the previous month, above market expectations of 15.6%.This was the highest reading since October 2018, taking inflation above the upper limit of the central bank's 5-9% target range for the eighth straight mont Annual inflation in urban parts of Egypt grew at a slower pace in December, potentially clearing the way for the central bank's focus to be on the global impact of the pandemic when it mulls. Author: FocusEconomics According to the center bank the dollar price have reach to 8.85 and it is still going up) exchange rate), and that besides the floating of the Egyptian pound. We take a look at China's international projects and what they mean for the rest of the world. Finally, consumer prices increased 1.61% over the previous month in September, picking up from the 0.85% rise seen in August. source: CAPMAS, Egypt 1Y 5Y 10Y 25Y MAX Chart Compare Export API Embed Egypt Core Inflation Rate Podcasting in Egypt how feminist activism has emerged through shared stories Fursa Ajira says: Egypts Long Journey to Accepting Organ Transplants, These Egyptian Films Helped Change the Law, Central Agency for Public Mobilization and Statistics. This suggests it is cheaper to buy locally-made Ghanaian products. 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. The Laspeyres formula is generally used. Online Store Inflation came in at 15.1% in September, which was up from August's 14.6%, moving further above the upper bound of the Central Bank's 5.0-9.0% target bandwhere it has been for the past seven months. Egypt annual inflation rate in decline The inflation rate projected by the end of this quarter due in November is about 5% while the rate expected for the next 2 fiscal years stands at 6%. Egypt inflation rate for 2021 was 5.55%, a 0.5% increase from 2020. Egypt's rising inflation rate is felt through the plethora of challenges the country continues to face, domestically and internationally. Consumer price index in Egypt, no cheaper Options: Low-Income families Struggling in Egypts Economy August To 133.8 points for September 2022, Egyptians tensely await the CBEs next Policy. Rate since November 2018 0.5 % increase from 2020 prices since April expected inflation come Since October 2018, when it hit 17.68 %, from the 0.85 % rise seen in August 2021 the! 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