{"id":552917,"date":"2022-10-10T13:16:07","date_gmt":"2022-10-10T13:16:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/this-evening-inflation-hits-highest-levels-in-four-years-russia-hammers-ukraine-in-retaliatory-missile-attacks\/"},"modified":"2022-10-10T13:16:07","modified_gmt":"2022-10-10T13:16:07","slug":"this-evening-inflation-hits-highest-levels-in-four-years-russia-hammers-ukraine-in-retaliatory-missile-attacks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/this-evening-inflation-hits-highest-levels-in-four-years-russia-hammers-ukraine-in-retaliatory-missile-attacks\/","title":{"rendered":"THIS EVENING: Inflation hits highest levels in four years + Russia hammers Ukraine in retaliatory missile attacks"},"content":{"rendered":"

Good afternoon, friends.<\/strong> We have a reasonably busy Monday on our hands here in Omm El Donia, while the international press\u2019 attention is divided between the latest developments in Ukraine and the IMF \/ World Bank annual meetings.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> Inflation accelerated last month to its fastest pace since November 2018<\/strong> as price shocks continue to linger, figures (pdf)<\/a> from official statistics agency CAPMAS showed. Urban consumer price inflation rose to 15.0% y-o-y in September, up from 14.6% a month earlier, largely on the back of rising food and beverage prices, as well as housing and utilities costs.<\/p>\n

THE BIG STORY ABROAD <\/strong><\/p>\n

Russia launched missile attacks in many major cities in Ukraine this morning,<\/strong> killing at least five civilians.<\/strong> The attacks were retaliation for what President Vladimir Putin claimed was a \u201cterrorist attack\u201d from Ukraine on the bridge to Crimea<\/a>. The story is on the front pages of the Reuters<\/a>, Financial Times<\/a>, the Wall Street Journal<\/a>, and the Washington Post<\/a>, among others.<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

The IMF and World Bank <\/strong>annual meetings<\/a><\/strong> kicked off today <\/strong>in Washington, DC, and wrap up on Sunday, 16 October. The theme of the in-person gathering is clear from the very first session: \u201caddressing multiple crises in an era of volatility<\/strong>.\u201d You can explore the meetings\u2019 website here<\/a> or dive deeper into the day-by-day agenda here<\/a>.<\/p>\n

Wrapping up just minutes before we hit \u201csend\u201d on this afternoon\u2019s edition:<\/strong> The meetings\u2019 first joint seminar, titled The Way Forward: Addressing Multiple Crises in an Era of Volatility<\/a>, in which IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass discussed future global economic growth in light of \u201cmultiple overlapping crises.\u201d<\/p>\n

In Washington for the meetings:<\/strong> Central Bank of Egypt Governor Hassan Abdalla, several cabinet members, and figures from the Egyptian banking community. International Cooperation Minister Rania Al Mashat is among those attending the meetings and is expected to sit down with several development partners on the sidelines, according to a statement<\/a>.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n