Inflation in Egypt
Egypt - Inflation
Inflation slows to an over six-and-a-half year low in August
Consumer prices increased 0.7% in August compared to the previous month, down from the 1.8% increase in July. The slower price increase in August was due to a weaker increase in prices for both housing, water, electricity, gas and other fuels, and transportation, both of which jumped in July following a cut in government fuel subsidies that month.
Inflation decelerated to 7.5% in August from 8.7% in July, dropping further below the 9.0% midpoint of the Central Bank’s Q4 CY 2020 target range of 6.0% to 12.0% and marking the lowest reading since January 2013. August’s reading was driven by a weaker increase in prices for both food and beverages, and housing, water, electricity, gas and other fuels.
Core inflation, which excludes energy prices, slowed to 4.9% in August from 5.9% in July. Average inflation over the past 12 months moderated to 12.8% in August from 13.4% in July.
FocusEconomics Consensus Forecast panelists expect inflation to average 11.7% in CY 2019, which is down 0.4 percentage points from last month’s forecast, and 9.7% 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||14.50||0.0 %||Sep 04|
|Exchange Rate||16.52||0.0 %||Sep 04|
|Stock Market||1,376||0.53 %||Sep 04|
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September 26, 2019
The Central Bank of Egypt (CBE) slashed interest rates by one percentage point at its monetary policy meeting on 26 September, as had been broadly expected by market analysts, following a 1.50 percentage-point cut on 22 August.
September 10, 2019
Consumer prices increased 0.7% in August compared to the previous month, down from the 1.8% increase in July.
September 3, 2019
The Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, fell to 49.4 in August from 50.3 in July.
August 22, 2019
The Central Bank of Egypt (CBE) slashed all interest rates by 1.5 percentage points at its monetary policy meeting on 22 August, catching most market analysts by surprise.
August 8, 2019
Consumer prices increased 1.8% in July compared to the previous month, contrasting the 0.8% decrease in June.