{"id":625639,"date":"2018-08-12T04:14:26","date_gmt":"2018-08-12T04:14:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/12\/inflation-cools-in-july-to-13-5-after-surge-in-june\/"},"modified":"2018-08-12T04:14:26","modified_gmt":"2018-08-12T04:14:26","slug":"inflation-cools-in-july-to-13-5-after-surge-in-june","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/12\/inflation-cools-in-july-to-13-5-after-surge-in-june\/","title":{"rendered":"Inflation cools in July to 13.5% after surge in June"},"content":{"rendered":"

<\/a> Inflation cools in July to 13.5% after surge in June: <\/strong>Annual headline inflation cooled to 13.5% in July, down from a high of 14.4% in June, according to data released by the central bank on Thursday (pdf)<\/a>. Monthly headline inflation reached 2.5% in July, according to data from CAPMAS<\/a>. Annual core inflation \u2014 the CBE\u2019s preferred gauge, which strips away volatile items such as food \u2014 sank further in July to 8.5%, down from 10.9% in June. Inflation levels in June had accelerated for the first time<\/a> in a year and at a much faster pace than expected, after dropping to a two-year low in May<\/a>, as a result of subsidy cuts to fuel, power, and transportation<\/a> in July. \u201cWe expected the hike to be fully apparent in June and the reduced spending levels would let the impact fade away in July,\u201d Beltone Financial\u2019s Alia Mamdouh tells Reuters<\/a>.<\/p>\n

Analysts still expect the CBE\u2019s Monetary Policy Committee (MPC) to keep the country\u2019s key interest rates on hold at its 16 August meeting,<\/strong> despite the decline in inflation rates, the newswire notes. A number of experts had suggested last month that the MPC is likely to keep overnight deposit and lending rates unchanged at 16.75% and 17.75%, respectively, until the end of the year to allow the economy more time to fully absorb the shock of price hikes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Inflation cools in July to 13.5% after surge in June: Annual headline inflation cooled to 13.5% in July, down from a high of 14.4% in June, according to data released by the central bank on Thursday (pdf). Monthly headline inflation reached 2.5% in July, according to data from CAPMAS. Annual core inflation \u2014 the CBE\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625639","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e5de7360-87c7-4892-9598-5ff9b82f0e85","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[625634],"teaser":"","voice_url":""},"yoast_head":"\nInflation cools in July to 13.5% after surge in June - 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\/2018\/08\/12\/inflation-cools-in-july-to-13-5-after-surge-in-june\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation cools in July to 13.5% after surge in June\" \/>\n<meta property=\"og:description\" content=\"Inflation cools in July to 13.5% after surge in June: Annual headline inflation cooled to 13.5% in July, down from a high of 14.4% in June, according to data released by the central bank on Thursday (pdf). 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