Inflation in Egypt
Egypt - Inflation
Inflation comes in at highest level since May 2019 in July
Consumer prices increased 1.33% in July over the previous month, swinging from June's 0.16% fall. Looking at the details of the release, the rebound in price pressures was largely driven by rising prices for food and non-alcoholic beverages. In addition, price pressures for transportation increased at a faster rate.
Inflation resumed its upward trend in July and came in at 13.6%, up from June’s 13.1%, moving further above the upper bound of the Central Bank’s 5.0–9.0% target band—where it has been for the past five months. July's figure was the highest inflation rate since May 2019. Consequently, the trend pointed up, with annual average inflation coming in at 9.2% in July (June: 8.5%). Lastly, core inflation rose to 15.6% in July, from June’s 14.6%.
Our panelists see inflation averaging 13.2% in CY 2022, which is down 0.3 percentage points from last month’s forecast, and 9.7% in CY 2023.
Egypt - Inflation Data
|Inflation Rate (CPI, annual variation in %)||10.4||13.8||29.5||14.4||9.2|
5 years of economic forecasts for more than 30 economic indicators.
Egypt Inflation Chart
Source: Central Agency for Public Mobilization and Statistics.
|Bond Yield||13.70||0.0 %||Dec 31|
|Exchange Rate||16.04||0.0 %||Jan 01|
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August 18, 2022
At its 18 August monetary policy meeting, the Central Bank of Egypt (CBE) opted to maintain all of its rates unchanged, mirroring its June move.
August 10, 2022
Consumer prices increased 1.33% in July over the previous month, swinging from June's 0.16% fall.
August 3, 2022
The S&P Global Purchasing Managers’ Index—which measures business activity in the non-oil private sector—came in at 46.4 in July, up from June's 45.2.
July 7, 2022
Consumer prices fell 0.16% from the previous month in June, contrasting May's 1.03% increase.
July 6, 2022
The S&P Global Purchasing Managers’ Index—which measures business activity in the non-oil private sector—came in at 45.2 in June, down from May's 47.0.