Egypt's FEC, TRAIN partner to support food exporters    Spot Gold, futures slips on Thursday, July 17th    Egypt's EHA, Huawei discuss enhanced digital health    Egypt expresses condolences to Iraq over fire tragedy    Egypt, Oman discuss environmental cooperation    Egypt's Environment Minister attends AMCEN conference in Nairobi    At London 'Egypt Day', Finance Minister outlines pro-investment policies    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's FRA chief vows to reform business environment to boost investor confidence    Egyptian, Belarusian officials discuss drug registration, market access    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Sri Lanka's expat remittances up in June '25    EU–US trade talks enter 'decisive phase', German politician says    Egypt's Health Min. discusses drug localisation with Sandoz    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's annual headline inflation rises to 4.5% in February: CAPMAS
Doaa A Moneim Published in Ahram Online on 10 - 03 - 2021

Egypt's annual headline inflation in urban areas accelerated to reach 4.5 percent in February, up from 4.3 percent recorded in January, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced on Wednesday.
Meanwhile, Egypt's annual headline inflation rate stood at 4.9 percent in February, the same level recorded in February 2020, according to CAPMAS.
Additionally, Egypt's headline monthly inflation saw a slight increase of 0.1 percent in February compared to January level.
Accordingly, Egypt's inflation rates remain within the inflation target set by the Central Bank of Egypt (CBE) by 7 seven percent (+/-2 percent) through 2022.
CAPMAS attributed the increase in the annual inflation to the rise in consumer prices of some goods by 0.2 percent, while prices of food and beverages during February was stable.
In February, CAPMAS announced that Egypt's annual headline inflation rate declined in January to 4.8 percent, down from 6.8 percent in the same month of 2020, the lowest since October, and monthly headline inflation also decreased in January by 0.4 percent compared to December.
Egypt is expected to witness a notable increase in its inflation rates in March ahead of the holy month of Ramadan, which is due to be in April.
Meanwhile, Egypt's monthly headline inflation, computed by the CBE and announced on Wednesday, recorded 0.3 percent in February 2021 compared to 0.2 percent in the same month of the previous year and to 0.5 percent in January 2021.
As a result, the annual headline inflation rate remained stable at 3.6 percent in February 2021, according to CBE calculations.
The CBE's Monetary Policy Committee is expected to review the key interest rates in its scheduled meeting on 18 March in light of the latest inflation rates, which pave the way for keeping the interest rates unchanged.
Egypt's inflation rate is expected to reach 6.4 percent by the end of the third quarter of FY2020/2021 — which ends in March, according to Trading Economics (TE) global macro models and analysts' expectations.
Looking forward, TE projected Egypt's inflation rate to stand at 7 percent in 12 months time, and to trend around 6.8 percent in 2022 and 6.5 percent in 2023, over the long term.

Clic here to read the story from its source.