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Inflation Data

Egypt’s annual inflation rate records 36% in February 2024 | CAPMAS

According to CAPMAS, Egypt's monthly inflation rate was 11.0% for February 2024 compared to 1.7% for January 2024

AfDB lowers expectations for Egyptian growth for 2024 to 3.7%

Egypt’s economic growth is expected to slightly narrow in 2024, according to the African Development Bank (AfDB), dropping from an estimated 4% in 2023 to 3.7% in 2024

Urban inflation slows to 29.8% as F&B prices fall by 47.9% | CAPMAS

The statistics agency pointed to a sharp decline in the costs of food and beverages, the largest single component of the inflation basket, which slid by 47.9%

S&P Global lowers Egypt’s PMI as surveyed companies’ confidence drops

Optimism for the non-oil private sector witnessed a decline to 52.1 from December's 55.1, but still above November 2023’s record low of 50.9

Monetary Policy Committee ends first annual meeting of 2024 by raising interest rates

The Central Bank of Egypt (CBE) increased the overnight deposit rate to 21.25%, the overnight lending rate to 22.25%, the rate of the main operation to 21.75%, and the discount rate was also raised to 21.75%