Data from the Central Agency for Public Mobilization and Statistics reported in Egypt Sunday, at an increased rate Inflation The annual rate in Egyptian cities reached 26.5 percent last October, compared to 26.4 percent last September, which is lower than analysts’ expectations.
According to a poll conducted by Reuters, the annual inflation rate in Egyptian cities is expected to reach 20.4 percent during 2024-2025 and 11.4 percent in 2025-2026.
Inflation rose to 26.4 percent last September, but it is still far below the record level of 38 percent recorded in September 2023.
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In recent months, the Egyptian government has raised the prices of gasoline, diesel, and train and subway tickets, leading to increases in the prices of many other goods and services.
These increases were not the first, as at the end of last May, the government raised the price of a loaf of subsidized bread by 300 percent, in an unprecedented step in more than three decades.
Egypt also increased allocations to support bread and food supplies in its budget for the current fiscal year by about 5 percent, to reach 134.2 billion pounds. On a monthly level, the inflation rate in Egyptian cities recorded an increase of 1.1 percent during last October compared to the previous month.
Last March, Egypt concluded an agreement on financial support worth $8 billion with… IMF
International, with the aim of helping to control monetary policy that contributes to exacerbating inflation, and the agreement includes requirements to raise the prices of a number of products in the local market.
