Left Menu
Development News Edition

UPDATE 1-Egypt's headline inflation slows to a four-year low of 8.7% in July

Reuters | Cairo | Updated: 08-08-2019 12:45 IST | Created: 08-08-2019 12:42 IST
UPDATE 1-Egypt's headline inflation slows to a four-year low of 8.7% in July
Image Credit: StoryBlocks

Egypt's annual urban consumer price inflation decreased to 8.7% in July from 9.4% in June, official statistics agency CAPMAS said on Thursday, its lowest in nearly four years.

Egypt is approaching the end of an IMF-backed economic reform programme, which included steep subsidy cuts and a currency devaluation and saw inflation rise to a high of 33% in 2017. July's rate defied analysts' expectations since it followed a fresh round of fuel subsidy cuts that pushed prices up 16%-30%.

"The figures are much lower than our expectations but are likely due to the high base effect from last year," said Radwa El-Swaify, head of research at Pharos Securities Brokerage. In July 2018, Egypt's headline inflation rate was 13.5%.

"It's great news for the markets because it reinforces hopes of interest rate cuts in August. I think the central bank now has enough room to restart its monetary easing policy going forward," said Allen Sandeep, head of research at Naeem Brokerage. At its last meeting on July 11, the monetary policy committee kept key interest rates on hold at 15.75% and 16.75% for overnight deposit and lending respectively.

It had last cut its rates in February.



Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Rwanda’s COVID-19 response commendable but health information system needs improvement

Rwanda is consistently working to improve its health information system from many years. However, it is primarily dependent on the collection and reporting of health data on a monthly basis. Besides, evaluation studies on Rwandas HIS publis...


Latest News

Police deployed in Haryana's Ambala in view of farmers' protest

Massive security deployment has been made at Sadopur border in Haryanas Ambala on Sunday due to the protest called by 16 farmers associations as the Parliament discusses Agriculture bills. Y Puran Kumar, IG, Ambala Range, Haryana said that ...

South Goa district hospital commissioned as COVID-19 facility

The South Goa district hospital has been commissioned has a COVID-19 treatment facility with an initial capacity of 150 beds, state Health Minister Vishwajit Rane has said. Till now, COVID-19 patients in the state were being treated at the ...

Court weighs allowing courtroom cameras in George Floyd case

The trial of four former Minneapolis police officers charged in George Floyds death will generate massive public interest when it begins in March, but as it stands, most people who want to watch the proceedings will be out of luck. The judg...

Nagaland Lokayukta dismisses complaint filed against DyCM Y Patton

Nagaland Lokayukta Justice Uma Nath Singh has dismissed a complaint filed by a former student union leader against Deputy Chief Minister Y Patton alleging that the DyCM abused his power in manipulating the results of NPSC examination. In an...

Give Feedback