Monday 11/November/2024 – 08:04 AM
The Cabinet Media Center published an infographic on its official page on the social networking site Facebook, highlighting the decline in the monthly inflation rate.
Monthly inflation rate
The Cabinet Media Center reported a decline in the overall monthly inflation rate last October 2024. To become 1.5% compared to about 2.3% in September 2024, indicating that the prices of a group of fruits and vegetables have decreased.
In this context, Dr. Ezz Hassanein, the economic expert, expected the Monetary Policy Committee’s decision to stabilize deposit and lending rates at the current levels of 27.25% and 28.25%. This comes due to the rise in general inflation at the level of 26.4% and a slight decrease in core inflation, which means that price levels are… Still high.
Hassanein added to Cairo 24 that this comes in contrast to the agreement with the International Monetary Fund to follow a contractionary policy and the Central Bank to withdraw excess liquidity from banks through open market operations, with expectations of a rise in oil prices internationally and a rise in commodity prices globally, affected by military operations in the region and the impact on movement. Navigation in the Red Sea and high costs of shipping and insurance.
