{"id":586361,"date":"2023-05-10T00:00:00","date_gmt":"2023-05-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/10\/its-inflation-day-analysts-expect-prices-to-have-slowed-in-april\/"},"modified":"2023-05-10T00:00:00","modified_gmt":"2023-05-10T00:00:00","slug":"its-inflation-day-analysts-expect-prices-to-have-slowed-in-april","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/10\/its-inflation-day-analysts-expect-prices-to-have-slowed-in-april\/","title":{"rendered":"It\u2019s inflation day: Analysts expect prices to have slowed in April"},"content":{"rendered":"

Good morning, wonderful people, and welcome to a budget-heavy issue of your morning <\/span>read<\/span>,<\/span>after Finance Minister Mohamed Mait unveiled 2023-2034 document in the House of Representatives yesterday. <\/span><\/p>\n

We\u2019ve done plenty of math to help you make sense of Maait\u2019s spending plan for the <\/span>upcoming fiscal year<\/span>, which leads our news well this morning, below.<\/span><\/p>\n

FROM THE DEPT. OF GOOD NEWS- The document Maait tabled yesterday includes a <\/span>sharp increase in export subsidies<\/span>, underscoring the importance that the prime minister\u2019s office is putting on exports. We\u2019ll look forward to more details on that front as the budget debate continues. <\/span><\/p>\n

Late night talkshow mainstay Lamees El Hadidi hosted a he said \/ he said on the budget <\/span>last night<\/span>, including two distinct views on Maait\u2019s plan for 2023-2024. We have coverage in Last Night\u2019s Talk Shows. <\/span><\/p>\n

Budget discussions continue today for a second day. <\/span><\/p>\n

<\/a> <\/span>WATCH THIS SPACE- It\u2019s also inflation day \u2014 and expectations are <\/span>for <\/span>price growth to have slowed in April:<\/span> That\u2019s according to a <\/span>Reuters poll of analysts<\/a><\/span>, whose median forecast is for headline inflation to fall to 31.0% from <\/span>32.7%<\/a><\/span> in March. <\/span><\/p>\n

What to thank:<\/span> A \u201cfavorable base effect, a steady currency, and weaker commodity prices,\u201d the <\/span>newswire says.<\/span><\/p>\n

It has been a while since we\u2019ve known anything other than unrelenting inflation:<\/span> Headline <\/span>CPI has risen for nine consecutive months, rising from 13.2% to near-record highs on the back of a series of heavy currency devaluations.<\/span><\/p>\n

Yes, but: <\/span>Inflation could rise in the coming months especially if the country pushes through with <\/span>further EGP devaluations which would hike prices even higher, Capital Economics said. <\/span>And there\u2019s the <\/span>recent hike in diesel prices<\/a><\/span> to consider, too. <\/span><\/p>\n

NOW, speaking of exports:<\/span><\/p>\n

<\/a><\/span><\/p>\n

<\/span><\/a> <\/span>We\u2019re only five days away from meeting with some of you at the <\/span>Enterprise Exports and <\/span>FDI Forum,<\/span> taking place at the Four Seasons at the Nile Plaza on<\/span> Monday, 15 May. <\/span><\/p>\n

We\u2019re delighted to announce that our friend Yasmine Khamis, chair of the Orientals Group and one of the nation\u2019s largest exporters, is joining us for the forum. Are you?<\/span> Yasmine will be speaking on why exports and FDI are the way forward. She will be joined on stage for that discussion by <\/span>Yassir Zouaoui<\/span>, a partner at McKinsey who is coming in from the GCC to join us, as well as <\/span>Cheick-Oumar Sylla<\/span>, director for North Africa and the Horn of Africa at the International Finance Corporation to help us set the stage for the day<\/span><\/p>\n

The panel will be co-moderated by our friend Helmy Ghazi, deputy CEO of HSBC Egypt <\/span>and Patrick, our editor-in-chief.<\/span><\/p>\n

Essential reading before the conference: <\/span>Five steps to build a new Egyptian economy<\/a><\/span>, our most-read story ever.<\/span><\/p>\n

Among the CEOs, top execs, bankers, and development finance folks speaking at the conference are (in no particular order):<\/span>Tarek Kamel<\/span>, CEO of Nestle Egypt; <\/span>Omar Elsahy<\/span>, General Manager of Amazon Egypt, <\/span>Khaled Morsy<\/span>, CEO of DB Schenker Egypt; <\/span>Mark Wylie<\/span>, CEO of Beyti; <\/span>Mohamed Talaat Khalifa<\/span>, CEO of Concrete; <\/span>Kareem Abou Ghaly<\/span>, chairman and CEO of Pasta Regina; <\/span>Tarek Hosny<\/span>, head of investments and projects at Fertiglobe; <\/span>Nadia El Tawil,<\/span> investment officer at AfricInvest; <\/span>Mostafa Bedair,<\/span> CEO of Giza Seeds and Herbs; <\/span>Hassan Massoud<\/span>, associate director and head of private equity (Southern Mediterranean), at the EBRD; <\/span>Hossam Abou Moussa,<\/span> partner at Apis; <\/span>Shady William<\/span>, managing director of IDG; <\/span>Nada El Ahwal,<\/span> CSO of Transmar; <\/span>Mohamed El Gebely,<\/span> team leader at USAID Trade; <\/span>Hossam Sallab,<\/span> CEO and vice-chairman, Sallab Group and Royal Ceramica; and <\/span>Abdallah Sallam<\/span>, CEO of Madinet Masr.<\/span><\/p>\n

Topics and live interviews will include:<\/span><\/p>\n