Inflation in Egypt
Egypt - Inflation
Inflation eases in April
Consumer prices rose 0.5% in April compared to the previous month, down from the 0.8% increase in March. The overall increase was supported by seasonally higher prices for fruits and vegetables, but weighed on by barely-changed prices for regulated items and food excluding fruits and vegetables.
Inflation moderated to 13.0% in April from 14.2% in March, but remained outside of the Central Bank’s Q4 CY 2020 target range of 9.0% plus or minus three percentage points. Meanwhile, core inflation decelerated to 8.1% from 8.9%, and annual average inflation was unchanged at 14.1%.
Looking ahead, inflation could face upward pressure from June as the government is set to cut fuel subsidies, although the appreciation of the Egyptian pound since January should somewhat counteract upward pressure.
FocusEconomics Consensus Forecast panelists expect inflation to average 12.2% in CY 2019, which is up 0.2 percentage points from last month’s forecast, and 10.3% in CY 2020.
Egypt - Inflation Data
|Inflation Rate (CPI, annual variation in %)||9.5||10.1||10.4||13.8||29.5|
5 years of economic forecasts for more than 30 economic indicators.
Egypt Inflation Chart
Source: Central Agency for Public Mobilization and Statistics.
|Bond Yield||16.05||0.0 %||Jun 13|
|Exchange Rate||16.76||0.0 %||Jun 13|
|Stock Market||1,351||0.53 %||Jun 13|
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May 23, 2019
The Central Bank of Egypt (CBE) left all interest rates unchanged at its monetary policy meeting on 23 May, as had been expected by most market analysts.
May 23, 2019
The economy expanded 5.6% year-on-year in January–March (FY2019 Q3), slightly faster than the 5.5% growth recorded in October–December.
May 9, 2019
Consumer prices rose 0.5% in April compared to the previous month, down from the 0.8% increase in March.
May 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rose to 50.8 in April from 49.9 in March, coming above the 50-threshold that separates expansion from contraction for the first time in eight months. The increase in April was driven by the first rise in output since November 2017.
April 10, 2019
Consumer prices rose 0.8% in March compared to the previous month, down from the 1.7% rise in February.