The Clap
Inflation in Egypt went down to 13.2% in June.
The Deets
Inflation went down from 13.5% in May 2022 to 13.2% in June 2022 This is the first time inflation has gone down since November 2021.
Inflation has gone down partly due to the drop in prices for fruits and vegetables. The prices of vegetables went down by 18.8% and fruits saw a 10.5% decrease in prices as well.
The expected inflation level for June was 14%.
What does this indicate?
Generally, deflation is a sign of a weakening economy. In this case, it’s not economy wide price drops as a lot of commodities have seen increase in prices.
While prices of fruits and vegetables decreased, prices of wheat and soybeans saw price increases.
Inflation goes … down? 〽️
