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Egypt inflation lowest since 2013

Inflation rates slowed to almost 4.9% annual rate in August. Despite interest rate cuts, Egypt is becoming more attractive for investors.
© Egypt Business Directory

Egypt Central Bank stated that their target is to achieve a 9% inflation rate by the end of 2020 while CAPMAS announced last week that price have risen 7.5% compared to last year.

Consumer prices have been way up before, precisely since the devaluation of the Egyptian Pound in 2016 in accordance with the conditions of acquiring a loan from the IMF.

Another condition for the loan was minimizing fuel subsidies which happened earlier this year and despite the fear of rising prices due to this decision inflation slowed down which might prompt more interest rates cuts.

However, investments haven't been affected by the interest rate cuts and the Egyptian economy is still going string as the fastest growing the Middle East.