Inflation Rate in Egypt Continues to Rise
The inflation rate in Egypt is rising by 1.7% monthly, and 7.3% annually, which has curbed the ability of the Central Bank of Egypt to continue its interest rate cut policy.
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Food prices increase in Egypt with a rise in monthly inflation.
The inflation rate in Egypt rose for the third consecutive month by 1.7%, with a total of 7.3% annually last October, compared to 4.6% last year.
The Central Agency for Public Mobilization and Statistics bulletin attributed the rise in monthly inflation rates to an increase in the prices of food and beverage by 1.3%, transport and communications by 0.6%, and education by 13.9%.
The inflation rate rose annually due to the inflation in the food and beverages department by 13.7%, the housing, water, electricity, and gas department by 4%, the health care department by 2.5%, and the transportation and communications department by 4%. In addition, the inflation in the education department reached 13.9%.
In recent months, inflation rates in Egypt have witnessed a remarkable rise, although they remain at the official target rates.
Inflation rates curbed the Central Bank of Egypt's ability to continue its interest rate cut policy throughout the current year.
