Egypt Inflation December 2019

Egypt

Egypt: Inflation jumps in December

January 9, 2020

Consumer prices decreased 0.2% in December in month-on-month terms, after decreasing 0.3% in November. Core consumer prices, which do not include volatile prices such as food prices, increased 0.2% in December compared to the previous month, contrasting November’s 0.1% decrease.

Inflation accelerated to 7.1% in December from 3.6% in November, partly reflecting a low base effect and in line with the Central Bank of Egypt’s expectations. This reading represented a four-month high and resulted in inflation coming back within the Central Bank’s Q4 CY 2020 target range of 6.0% to 12.0%.

Core inflation, meanwhile, accelerated to 2.4% in December from 2.1% in November. Annual average inflation decelerated to 9.2% in December from 9.6% in November.

FocusEconomics Consensus Forecast panelists expect inflation to average 8.0% in CY 2020, which is down 0.4 percentage points from last month’s forecast, and 8.0% again in CY 2021.


Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Egypt? Download a sample report now.

Download

Egypt Inflation Chart


Egypt Inflation December 2019 1

Note: Year-on-year and month-on-month variation of urban consumer price index in %.
Source: Central Agency for Public Mobilization and Statistics (CAPMAS).


Egypt Economic News

  • Egypt: Egypt PMI continues gradual recovery in June

    July 6, 2020

    Egypt’s Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rose to 44.6 in June from 40.7 in May and marked a further recovery from the 29.7 reading in April, which remains the lowest on record since the current survey began in April 2011 and reflected the effects of Egypt’s first full month with strict coronavirus restrictions.

    Read more

  • Egypt: Central Bank leaves rates unchanged at June meeting

    June 25, 2020

    At its scheduled monetary policy meeting on 25 June, the Central Bank of Egypt (CBE) left the overnight deposit, overnight lending, and main operation rates unchanged at 9.25%, 10.25% and 9.75%, respectively, as expected by most market analysts. The decision to keep rates unchanged in June came despite inflation slowing to 4.7% in May, which was down from 5.9% in April, the lowest reading in six months and further clear of the CBE’s Q4 CY 2020 target range of 6.0% to 12.0%.

    Read more

  • Egypt: Inflation slows in May, falling further below Central Bank target range

    June 10, 2020

    Consumer prices were broadly unchanged in May compared to the previous month, after increasing 1.3% in April.

    Read more

  • Egypt: Egypt PMI rebounds in May but remains in contraction territory

    June 3, 2020

    Egypt’s Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rebounded to 40.7 in May from 29.7 in April, which had marked the lowest reading since the current survey began in April 2011 and reflected the effects of Egypt’s first full month with new social distancing measures in place aimed at reducing the spread of coronavirus.

    Read more

  • Egypt: Economic growth slows in January–March

    May 30, 2020

    The economy expanded 5.0% year-on-year in the third quarter of FY 2020 (January–March 2020), according to estimates announced by the Ministry of Planning and Development on 30 May.

    Read more

More news

Search form