{"id":567047,"date":"2020-01-12T04:14:48","date_gmt":"2020-01-12T04:14:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/"},"modified":"2020-01-12T04:14:48","modified_gmt":"2020-01-12T04:14:48","slug":"egypt-inflation-nearly-doubles-to-7-1-in-december","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/","title":{"rendered":"Egypt inflation nearly doubles to 7.1% in December"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> Inflation nearly doubles m-o-m to 7.1% in December:<\/strong> Annual urban inflation jumped to 7.1% in December, <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/11\/inflation-rises-for-the-first-time-in-six-months-in-november-8270\/\">up from 3.6% in November<\/a>, the Central Bank of Egypt (CBE) calculated in its monthly <a href=\"https:\/\/ent.news\/2020\/1\/CPI_press-release_December-2019.pdf\">CPI release (pdf)<\/a> which is based <a href=\"https:\/\/ent.news\/2020\/1\/20201974940_%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A-12-2019-.pdf\">on Capmas data (pdf)<\/a>. The increase is in line with expectations on the end of a favorable base effect that resulted in a six-month disinflation spell between May-October 2019. Overall inflation, which takes into account price changes in both rural and urban areas, stood at 6.8%. <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-economy-inflation\/egypts-annual-headline-inflation-rises-to-7-1-in-december-idUSKBN1Z81YI\">Reuters also took note of the story<\/a>.<\/p>\n<p><strong>Month-on-month headline inflation came at -0.2%<\/strong>, falling for the second month in a row, led by a 6.8% decrease in the prices of sugar products and 6.3% in edible oil prices.<\/p>\n<p><strong>Core inflation rises slightly:<\/strong> Annual core inflation increased by 30 bps to 2.4% in December, while on a monthly basis it came at 0.2%, compared to -0.1% in November, according to the CPI release. Core inflation strips out volatile items such as food and fuel.<\/p>\n<p><strong>Still room for a rate cut? <\/strong>December\u2019s figures increase the chances that the CBE will keep rates unchanged when its Monetary Policy Committee meets on Thursday. But given that the meeting was postponed from 26 December, prospects for more rate cuts remain, Mohamed Abu Basha, head of macroeconomic analysis at EFG Hermes, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-01-09\/room-for-more-egypt-rate-cuts-even-as-inflation-accelerates?sref=mmeFTDW1\">was quoted by Bloomberg as saying<\/a>.<\/p>\n<p><strong>Inflation is still within the CBE\u2019s 9% +\/-3% target range,<\/strong> and \u201cthere\u2019s easily room for a 150 bps cut,\u201d Naeem Brokerage\u2019s Allen Sandeep says, adding that the slowdown in food inflation, which accounts for one third of the basket, \u201cconfirms the state\u2019s success in containing inflation.\u201d The CBE made its <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-6356\/\">third consecutive rate cut last month<\/a> in an easing cycle that has seen rates cut by 350 bps since August, and 450 bps over the course of the year. <strong>Seven of 10 economists <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/22\/enterprise-poll-central-bank-of-egypt-to-keep-rates-on-hold-in-final-meeting-of-2019-8827\/\">we polled<\/a><\/strong><strong> in December <\/strong>expected rates to be left on hold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation nearly doubles m-o-m to 7.1% in December: Annual urban inflation jumped to 7.1% in December, up from 3.6% in November, the Central Bank of Egypt (CBE) calculated in its monthly CPI release (pdf) which is based on Capmas data (pdf). The increase is in line with expectations on the end of a favorable base [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":567048,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[271,72,182,724,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-central-bank-of-egypt","tag-enterpriseam","tag-inflation","tag-monetary-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7d2b190e-4d13-4356-ad64-f11e3232b3b4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/565.jpg","photo_position":"above","related_issue":[567042],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt inflation nearly doubles to 7.1% in December - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt inflation nearly doubles to 7.1% in December\" \/>\n<meta property=\"og:description\" content=\"Inflation nearly doubles m-o-m to 7.1% in December: Annual urban inflation jumped to 7.1% in December, up from 3.6% in November, the Central Bank of Egypt (CBE) calculated in its monthly CPI release (pdf) which is based on Capmas data (pdf). The increase is in line with expectations on the end of a favorable base [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-12T04:14:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/565.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt inflation nearly doubles to 7.1% in December\",\"datePublished\":\"2020-01-12T04:14:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/\"},\"wordCount\":314,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/565.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Central Bank of Egypt\",\"EnterpriseAM\",\"inflation\",\"monetary policy\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egypt-inflation-nearly-doubles-to-7-1-in-december\/\",\"name\":\"Egypt inflation nearly doubles to 7.1% in December - 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Urban headline inflation dropped for the second consecutive month to 4.3% from 5.4% in December 2020, and closing in on a 3.7% record low reading last September, figures from state statistics agency Capmas (pdf) and the central\u2026","rel":"","context":"In &quot;SPEED ROUND: ECONOMY&quot;","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/429.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577923,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/inflation-accelerates-to-five-year-high-in-november\/","url_meta":{"origin":567047,"position":5},"title":"Inflation accelerates to five-year high in November","author":"enterpriseam admin","date":"11 December 2022","format":false,"excerpt":"Deval drives inflation to five-year high: Urban annual inflation accelerated to 18.7% in November, up from 16.2% in October, according to figures from state statistics agency Capmas. November\u2019s inflation figures are the highest in nearly five years, driven primarily by rising food and beverage prices. On a month-on-month basis, urban\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/181.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=567047"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567047\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567048"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567047"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567047"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}