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Central Bank keeps rates steady, warns of inflation

CAIRO: Egypt’s central bank left its benchmark overnight deposit and lending rates unchanged on Thursday, saying economic growth remained feeble yet warning that local supply bottlenecks could cause inflation to speed up. Some economists had expected the central bank to increase rates to dampen accelerating inflation and attract funds to the country’s financial system. Headline …


Egypt inflation rise deepens challenge for Cabinet

CAIRO: Inflation in Egypt’s faltering economy accelerated in November, putting pressure on the new government to help millions of poor whose living costs were pushed up by supply chain failures even as incomes have been stagnating. Urban consumer prices climbed 9.1 percent in the 12 months to November, up from 7.1 percent in October, the …


Egypt urban inflation slows to 7.1 pct in October

CAIRO: Egypt’s urban consumer inflation slowed to 7.1 percent on an annual basis last month from 8.2 percent in September, Egypt’s state statistics agency said on Thursday. The urban consumer price index for October was 119.2 versus 111.3 a year earlier, the agency CAPMAS said. Meanwhile, core consumer price inflation declined to an annual 7.6 …


Egypt’s core inflation rises to 7.95 pct in Sept

CAIRO: Egypt’s headline inflation eased last month as slowing food price growth offset a faster increase in housing costs, government figures showed on Monday, and economists forecast the central bank will hold key lending rates steady this week. Urban consumer price inflation, the most closely watched indicator of prices, eased to 8.2 percent in the …


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