Egyptian economic expert Mohamed Youssif expects that the inflation rate in Egypt would increase because of the elections and slowed production due to the recent clashes in Tahrir Square. The latest incidents affected all sectors of the market, especially tourism, he said. The director of Economic Research Center and the head of the economic department at al-Sadat Academy, Abdel Moutaleb Abdel Maged, said that the inflation rate increased because of consumer demands during the pilgrimage season and Eid al-Adha. He also expected that the inflation rate would increase further because of the global financial crisis affecting Egyptian exports.
