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Government investments amounted to EGP 324bn over past two years, Madbouly told parliament
Real GDP growth records -1.7% in Q2 of 2020, before recovering to 0.7% during Q3 of 2020
Subsequent inflation target has been set at average of 7% (±2%) during Q4 of 2022, as announced in December 2020
Headline inflation records 5.1% in 2020, down from 8.5% in 2019
Central bank to continue using monetary policy tools to control inflation expectations, and to containing inflationary pressures from the demand side
Central Bank of Egypt to reduce interest rates by 50-100 basis points: Banking pundit Abdel-Aal
It added that the whole country’s CPI recorded 111.2 points for November, reflecting an increase of 1.1% on October.
Interest rate cut currently provides adequate support for economic activity, consistent with achieving price stability in medium term: MPC
In a report released on Sunday, the CBE revealed that the monthly core consumer prices recorded a monthly rate of 0.1% in September 2020, against -0.2% in August 2020, and -2.3% in September 2019.
Whole country’s CPI recorded 107.5 points for September
El-Said referred to the performance indicators of the Egyptian economy during FY 2019/20, and the extent of vulnerability to the novel coronavirus (COVID-19) pandemic. This was especially in light of the proactive decisions taken by the Egyptian government in recent years.
Annual headline urban inflation declines to 4.2% in July, from 5.6% in June 2020
Whole country’s CPI inched up to 107.8 points in July, registering a slight increase of 0.2% from June
The agency added, in its monthly inflation report, that the whole country’s CPI inched down to 107.5 points in June, registering a slight decrease of 0.1% from May.
Last month’s inflation reading below expectations, so interest rates may remain fixed until end of 2020, Pharos expects
CAPMAS explained that the consumer price index (CPI) totalled 107.7 points in May, registering an increase of 0.1% over April.
Standard Chartered raises its policy rate forecast to 9.25% for both FY20 and FY21
Annual headline inflation increased due to higher annual food contribution which offset lower contribution of non-food items
CBE to review interest rate Thursday in light of new inflation figures
Anticipated decline is based on favourable base-year impact, food price consolidation
The highest growing category annually remains education, showing a 28.5% y-o-y rise, followed by recreation and culture, as well as transportation, growing at 14.3 % and 13.4% y-o-y in March, respectively
The CBE added that its consumer price index (CPI) inched up to 0.4% in March, compared to 0.2% in February and 0.5% in March 2019.
As for the annual inflation, it fell to 4.6% in March, compared to 4.9% in the preceding month, and 13.8% in March 2019.
Current headline inflation rate stands at 5.3%, core inflation at 1.9%
Annual headline inflation down to 5.3% in February
Accordingly, the annual core inflation rate recorded 1.9% in February 2020, compared to 2.7% in January 2020.
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
The rise was supported by increase in prices of meat, poultry, and vegetables on monthly basis
I expect a rate cut from 2% to 3%, exchange rate to EGP 14-15: Abdel Aal
However, the annual inflation rate during December 2019 decreased compared to December 2018, when it recorded 11.1% at the time