A slight slowdown in inflation in the cities of Egypt to the high food prices

The inflation rate in the cities of Egypt slowed slightly at the high food prices, according to the data of the Central Public Mobilization Agency and statistics released today. The inflation rate was 24% year -on -year last month, compared to 24.1% in December. Food and beverage prices, the largest influence at the inflation level, rose by 20.8% year-on-year last month, compared to 20.3% in December. The third slowdown over the past six months, as the inflation rate started again in August, due to the increase in fuel prices and tickets for public transport (trains and subway), including trains and subway. It was also preceded by the increase in the price of a 300% baking bread in May, which is the first increase of its kind in more than three decades. On a monthly basis, inflation of cities rose to 1.5% during January, compared to 0.2% in December last year. Also read: After standard heights … a sharp drop in vegetable prices in the expectations of Egypt of high food prices also contributed its expectations for the annual inflation rate to 13.4% instead of 10.5% last week, and he expected inflation to be over the next two years. Nevertheless, the bank believes that the central bank will lower interest rates by 200 basis points this month, with the continued financial facilitation, which will bring the interest rate to 16% by the end of the year. To meet the effects of inflation, the country decided last night to increase the minimum wages of workers in the private sector after applying a similar increase in May last year. She spent 240 billion pounds in September 2023 and February 2024 to support those who do not have it.