Browsing: Egypt’s inflation rate

Investors brought in after the 2016 IMF-scrutinised reforms are becoming increasingly sceptical of the Egyptian government’s finances, which is causing the price of Egypt’s dollar-denominated Eurobond in 2032 to plummet approximately 75 cents on the dollar at present.

This indicates that Egypt will have to pay higher interest rates if it wants to issue more bonds, even though the country is attempting to spread its debt with green, sharia-compliant, and yen-denominated samurai bonds.

In recent years, there has been a “quite large” rise in Egypt’s debt that has been issued in foreign currency, according to James Swanston, an economist at Capital Economics who specialises in the Middle East and North Africa.…

Egypt’s annual urban consumer inflation rose to 7.2 per cent in January from 7.1 per cent in December, the Central Agency for Public Mobilisation and Statistics (CAPMAS) said.

From December, it announced that month on month urban headline inflation stood at 0.7 per cent adding that Inflation remains within Egypt’s Central Bank of a target range of 9 per cent, plus or minus 3 percentage points.

The CBE announced that Egypt’s core inflation increased to 2.7% in January from 2.4% in December. Consumer prices decreased to 0.2% in December after decreasing to 0.3% in November.

Also Read: Ethiopia, Egypt, and Sudan set for Blue Nile dam agreement this January

Since August in December 2019, Egypt’s annual consumer price inflation rate recorded its highest rate rising to 7.1 per cent from 3.6 per cent in November.

According to Trading Economics data, prices rebounded for food & non-alcoholic beverages decreased to 1.8 …