Thndr Claps » EGY Claps » Economy 🏙 » Highest inflation level in 5 years
The ClapUrban inflation in Egypt recorded a 21.3% increase annually during December 2022, the highest inflation level recorded since 2017.
WhatSome analysts believe that the reason behind the increase in inflation is the shortage in the supply of goods and products and the continued decline in value for the EGP against the USD.
So WhatThe head of research at Zilla Capital expects inflation to continue to rise with the currency’s decline and could reach 25% during Q1 2023.
Now WhatSeveral key events are expected to significantly impact inflation, such as the setting of new fuel prices before the end of January 2023 and the monetary policy meeting on February 2, 2023.
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