Reported 15 days ago
Egyptian inflation experienced a slight increase for the third month in a row, reaching an annual rate of 26.5% in October, attributed mainly to a 9.2% rise in fuel prices. While food and beverage prices rose by 27.3%, the central bank is expected to maintain interest rates at 27.25% amid ongoing economic challenges, including regional tensions and a drop in Suez Canal revenue. The government aims to reduce subsidies while increasing social spending for the less fortunate as part of an $8 billion IMF deal.
Source: YAHOO