According to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt's annual urban consumer price inflation rate recorded 26.5 percent in October 2024 compared with 26.4 percent in September 2024.
The credit rating agency also anticipates a significant decline in inflation, from approximately 27.5% in the current year to around 16% in the next.
Morgan Stanley foresees a gradual easing of monetary policy throughout the year, with the policy rate potentially reaching 17.25% by December 2025. This would bring the rate down from the current 27.25%, while inflation is expected to stabilize around 14% in 2025.
The housing, water, electricity, gas, and fuel sector saw an increase of 2.9%, with a 7.2% rise in electricity, gas, and other fuel materials, a 0.7% increase in actual housing rents, and a 1.5% rise in housing maintenance and repair costs.
El-Sisi emphasized the need for the government to review its position with the IMF if the program’s challenges begin to impose unbearable pressure on the public.
