Thndr Claps » EGY Claps » Economy 🏙 » Annual Inflation Rate Rises to 8% in January 2022🎈
Egypt’s annual inflation rate rose from 6.5% in December 2021 to 8% in January 2022, according to data from CAPMAS.
More Details🧐 The consumer price index rose by 0.9% on a monthly basis.
The rise is attributed to the increase in food & beverage prices. Sugars & Sugar products rose by 14.7% on a monthly basis, vegetables by 4.3%, dairy products by 2.5%.
Why this Matters🤔 An 8% annual inflation rate is still within the CBE’s target rate of 5-9%. The CBE had kept interest rates unchanged in its last MPC meeting.
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