{"id":650764,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/09\/inflation-inches-up-once-again\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"inflation-inches-up-once-again","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/09\/inflation-inches-up-once-again\/","title":{"rendered":"Inflation inches up once again"},"content":{"rendered":"

Good afternoon, friends, and a happy Wednesday to you all.<\/strong><\/p>\n

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THE BIG STORY TODAY<\/p>\n

Inflati<\/strong>on <\/strong>nudges<\/strong> higher in Se<\/strong>ptember:<\/strong> Annual headline urban inflation ticked up 0.2 percentage points from the month before<\/a> to 26.4% in September, according to data from state statistics agency Capmas. The slight acceleration marks the second consecutive rise in a row, but still places the rate of inflation a whole 11.6 percentage points below the record 38.0% recorded in the same period last year.<\/p>\n

Driving the uptick were energy costs<\/strong>, coming in at 4.4 percentage points higher than the month before on an annual basis. Behind the increase was a 50% rise<\/a> in the cost of subsidized butane gas and electricity price hikes<\/a> during the month, in addition to fuel price hikes<\/a> of up to 15% that came into effect in late July.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

It\u2019s a pretty US-centric newsday in the international press<\/strong>, with coverage of Hurricane Milton approaching Florida temporarily pushing aside coverage of Israel\u2019s war on Gaza and now also Lebanon as the day\u2019s main story.<\/p>\n

Category 5 Hurricane Milton is <\/strong>set to make landfall<\/a><\/strong> near Tampa Bay, Florida late<\/strong> Wednesday or Thursday morning<\/strong>, sending Floridians still reeling from the devastation of Hurricane Helene two weeks prior scrambling to move to higher ground or prepare their homes for the storm\u2019s onslaught. The storm is expected to be one of the most destructive hurricanes to ever hit Florida\u2019s Gulf Coast, with meteorologists projecting a storm surge of 3 m to much of the area.<\/p>\n

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