By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt to issue new bonds for climate, social goals
    Egypt to issue new bonds for climate, social goals
    September 27, 2023
    Saudi Public Investment Fund eyes stake in Palm Hills Development
    Saudi Public Investment Fund eyes stake in Palm Hills Development
    September 27, 2023
    UNDP, MBRF launch online learning initiative for Arab countries
    UNDP, MBRF launch online learning initiative for Arab countries
    September 27, 2023
    Egypt Post invests in Roaderz platform to enhance e-commerce, delivery services
    Egypt Post invests in Roaderz platform to enhance e-commerce, delivery services
    September 27, 2023
    GAFI to grant 45 more golden licences to boost investment
    GAFI to grant 45 more golden licences to boost investment
    September 27, 2023
  • Politics
    PoliticsShow More
    Egypt’s Irrigation Minister highlights climate challenges for water sector
    Egypt’s Irrigation Minister highlights climate challenges for water sector
    September 27, 2023
    CCCPA, Senghor University join forces for African peace, development
    CCCPA, Senghor University join forces for African peace, development
    September 27, 2023
    Arab League chief urges more funding, investment for food security
    Arab League chief urges more funding, investment for food security
    September 27, 2023
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    September 27, 2023
    vPalestine urges international action to end Israeli occupation, crimes
    Palestine urges international action to end Israeli occupation, crimes
    September 26, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: CBE throws light on Egypt’s high inflation in November 2022
Share
Notification
Latest News
Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Science
Earthworms contribute to 6.5% of global grain production, says new research
Earthworms contribute to 6.5% of global grain production, says new research
Science
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Science
Egypt to issue new bonds for climate, social goals
Egypt to issue new bonds for climate, social goals
Business
Saudi Public Investment Fund eyes stake in Palm Hills Development
Saudi Public Investment Fund eyes stake in Palm Hills Development
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > CBE throws light on Egypt’s high inflation in November 2022
Business

CBE throws light on Egypt’s high inflation in November 2022

Hossam Mounir
Last updated: 2022/12/17 at 10:15 PM
By Hossam Mounir 4 Min Read
Share
CBE throws light on Egypt’s high inflation in November 2022
SHARE

Egypt’s annual headline urban inflation increased to 18.7% in November 2022 from 16.2% in October 2022.

November’s inflation was mainly caused by the 27 October local currency devaluation, and the continued repercussions of the Russian-Ukrainian conflict.

Annual food inflation recorded 29.9% in November 2022, which is the highest since November 2017. Non-food inflation also increased for the 12th consecutive month to 13.8%.

Monthly headline urban inflation recorded 2.3% in November 2022, up from 0.1% in November 2021. It was the second highest monthly inflation since 2008, after November 2016’s monthly inflation of 4.8%.

This was mainly driven by food items’ inflation, of which 1.2% is attributed to core food items. Non-food items also contributed to reflect broad-based increases encompassing services, mainly higher expenditure on restaurants and cafes as well as retail items, mainly household appliances, cleaning products, medical products, spare parts, and personal care products, in addition to higher prices of jewelry.

Driven by higher broad-based annual contributions, annual core inflation continued its upward trend that started more than a year ago, to record 21.5% in November 2022, from 19% in October 2022, the highest rate since November 2017.

Monthly core inflation recorded 2.7% in November 2022, compared to 0.5% in November 2021.

Annual inflation in the whole country increased to 19.2% in November 2022 from 16.3% in October 2022. In addition, rural annual inflation increased to 19.6% in November 2022 from 16.3% in October 2022.

Prices of fresh vegetables increased by 7.1%, while prices of fresh fruits declined by 1.4%. Together, they contributed by 0.21% to monthly headline inflation.

Prices of poultry increased by 11.2%, to contribute by 0.46% to monthly headline inflation. Prices of dairy products increased by 4.7%, to contribute by 0.17% to monthly headline inflation. Prices of red meat increased by 2.4%, to contribute by 0.10% to monthly headline inflation. Prices of market rice increased by 5.9%, to contribute by 0.07% to monthly headline inflation. Prices of fish and seafood increased by 3.2%, to contribute by 0.07% to monthly headline inflation. Prices of eggs increased by 3.5% to contribute by 0.05% to monthly headline inflation. Prices of other core food items including other edible oils, market sugar, bread, pasta, among others, increased to contribute by 0.31% to monthly headline inflation.

Moreover, prices of services increased by 1.0%, to contribute by 0.35% to monthly headline inflation. This mainly reflected higher expenditure on restaurants and cafes. Prices of retail items increased by 2.4%, to contribute by 0.33% to monthly headline inflation. This was mainly due to an increase in the prices of medical products and appliances, clothing and footwear, household appliances and cleaning products, jewelry, spare parts, and personal care products. Prices of regulated items increased by 0.7%, to contribute by 0.16% to monthly headline inflation. This was mainly due to the higher prices of medical products, equipment and appliances.

Monthly core inflation was affected by price changes of the aforementioned core CPI items. Core food items contributed by 1.72% to monthly core inflation. Services contributed by 0.48% to monthly core inflation. In addition, retail items contributed by 0.45% to monthly core inflation.

You Might Also Like

Egypt to issue new bonds for climate, social goals

Saudi Public Investment Fund eyes stake in Palm Hills Development

UNDP, MBRF launch online learning initiative for Arab countries

Egypt Post invests in Roaderz platform to enhance e-commerce, delivery services

GAFI to grant 45 more golden licences to boost investment

TAGGED: CBE, inflation
Share this Article
Facebook Twitter Email Print
Previous Article Army’s Chief of Staff inspects reclamation projects in Toshka Army’s Chief of Staff inspects reclamation projects in Toshka
Next Article NI Capital aims to increase managed assets to EGP 12bn NI Capital aims to increase managed assets to EGP 12bn
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Science
Earthworms contribute to 6.5% of global grain production, says new research
Earthworms contribute to 6.5% of global grain production, says new research
Science
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Science
Egypt to issue new bonds for climate, social goals
Egypt to issue new bonds for climate, social goals
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?