The Clap
Egypt’s annual inflation rate rose to 18.7% in November 2022.
What
Inflation, AKA the reason you get less for what you pay for as time goes on, was given a bump by the EGP’s devaluation, making imports more expensive.
So what
Food & beverage prices, which hold the most weight when calculating inflation, increased more than 30% year-over-year.
Now what
Soaring inflation is sure to be high on the Central Bank of Egypt’s (CBE) agenda when it meets on the 22nd of December.
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