Inflation Rises In July 2021

Giving More to Your Wealth
10 Aug 2021

According to CAPMAS (Central Agency for Public Mobilization and Statistics), annual urban inflation in Egypt for July 2021 recorded 5.4% versus 4.9% in June 2021. On a monthly basis, inflation in July 2021 was 0.9% MoM (between June and July of 2021). The main driver of the increase in inflation was higher prices for electricity, natural gas, and other fuels, which increased by 8.9%. This was due to the government’s decisions in July to increase domestic fuel prices as well as electricity prices. There were also some increases in the prices of food and tobacco. Annual nationwide inflation for July 2021 recorded 6.1% versus 5.3% in June 2021. Monthly nationwide inflation came in at 1.0% MoM. The inflation figures are broadly in line with analyst expectations. Note that the Central Bank of Egypt’s inflation target is 7% +/−2%.

(Source: Mubasher (English) (Arabic), Zawya (English), al-Ahram (English), Amwal al-Ghad, Hapi Journal, al-Watan, al-Shurouk, CNBC Arabia, al-Arabiya)

An opportunity to make a difference!

Why join Acumen?

Our number one focus in Acumen is our performance and our greatest asset is our people. We look for a team that is self-motivated, appreciates challenge and innovative. We tend to always pick the right person in the right position.

apply now