Consumer prices fell 0.08 percent month over month in December, reversing a 0.15 percent increase in November and marking the first reduction in prices since January 2021. The decrease in December was owing to a faster decline in food prices and a slower increase in health-care prices.
Inflation increased to 5.9% in December, up from 5.6 percent in November. Meanwhile, the trend remained stable for the third month in a row, with annual average inflation remaining at 5.2 percent in December, unchanged from November. Finally, core inflation increased to 6.0 percent in December (November: +5.8%), the highest level since September of this year.
Why is Egypt’s inflation rate so high?
On an annual basis, the higher annual contribution of food items drove the increase in headline inflation in February 2022, as annual food inflation continued its upward trend that began in May 2021 (except for November 2021) to 17.6 percent in February 2022, compared to 12.4 percent in January 2022.
What is our current inflation rate?
The US Inflation Rate is the percentage increase in the price of a selected basket of goods and services purchased in the US over a year. The US Federal Reserve uses inflation as one of the indicators to assess the economy’s health. The Federal Reserve has set a target of 2% inflation for the US economy since 2012, and if inflation does not fall within that range, it may adjust monetary policy. During the recession of the early 1980s, inflation was particularly noticeable. Inflation rates reached 14.93 percent, prompting Paul Volcker’s Federal Reserve to adopt drastic measures.
The current rate of inflation in the United States is 7.87 percent, up from 7.48 percent last month and 1.68 percent a year ago.
This is greater than the 3.24 percent long-term average.
What is Egypt’s highest interest rate?
Between 1991 and 2022, Egypt’s interest rate averaged 11.71 percent, with a high of 21.40 percent in October 1991 and a low of 8.25 percent in September 2009.
What is the poverty rate in Egypt?
CAIRO, Egypt, October 18, 2021: According to the Central Agency for Public Mobilization and Statistics, Egypt’s poverty rate declined 2.8 percent in the fiscal year 2019/2020, to 29.7%, down from 32.5 percent in 2017/2018. (CAPMAS).
This decline, according to the CAPMAS, indicates the effectiveness of the state’s efforts to achieve social justice in tandem with the state’s economic reforms, which concentrated on the social dimension of development.
It said in a statement on Sunday that Egypt’s extreme poverty rate (the percentage of people who cannot meet their basic food needs) fell to 4.5 percent in 2019/2020, down from 6.2 percent in 2017/2018, thanks to economic reform initiatives.
“The increase in the size of the family is a cause and a consequence of poverty at the same time,” it said, “since poor families do not have enough social protection, these families resort to increasing the number of children as a species from social protection when ol”
CAPMAS found that families with 10 or more members have a greater responsibility in increasing poverty rates than families with fewer than four members, with 80.6 percent of those living in families with 10 or more members being poor, and 48.1 percent of those living in families with 6-7 members being poor, compared to 7.5 percent of families with fewer than four members being poor.
According to the Statistics Authority, the degree of education is the most closely associated factor to the risk of poverty; as the level of education grows, poverty indicators decrease. In 2019/2020, the ratio of poor illiterates reached 35.6 percent, compared to 9.4 percent for those with a university diploma.
According to the figures, the percentage of poverty among those with above-average degrees was 15.2 percent, 17.4 percent among those with a secondary certificate, and 33.1 percent among those with a basic education.
What is Egypt’s unemployment rate?
(Reuters) – CAIRO, Feb 15 (Reuters) – Egypt’s unemployment rate fell to 7.4% in the fourth quarter of 2021, according to the country’s statistics agency, CAPMAS. In the prior quarter of 2021, the rate was 7.5 percent.
What is the inflation rate for 2021?
The United States’ annual inflation rate has risen from 3.2 percent in 2011 to 4.7 percent in 2021. This suggests that the dollar’s purchasing power has deteriorated in recent years.
What are the three different types of inflation?
- Inflation is defined as the rate at which a currency’s value falls and, as a result, the overall level of prices for goods and services rises.
- Demand-Pull inflation, Cost-Push inflation, and Built-In inflation are three forms of inflation that are occasionally used to classify it.
- The Consumer Price Index (CPI) and the Wholesale Price Index (WPI) are the two most widely used inflation indices (WPI).
- Depending on one’s perspective and rate of change, inflation can be perceived favourably or negatively.
- Those possessing tangible assets, such as real estate or stockpiled goods, may benefit from inflation because it increases the value of their holdings.
What country has the highest rate of inflation?
Venezuela has the world’s highest inflation rate, with a rate that has risen past one million percent in recent years. Prices in Venezuela have fluctuated so quickly at times that retailers have ceased posting price tags on items and instead urged consumers to just ask employees how much each item cost that day. Hyperinflation is an economic crisis caused by a government overspending (typically as a result of war, a regime change, or socioeconomic circumstances that reduce funding from tax collection) and issuing massive quantities of additional money to meet its expenses.
Venezuela’s economy used to be the envy of South America, with high per-capita income thanks to the world’s greatest oil reserves. However, the country’s substantial reliance on petroleum revenues made it particularly vulnerable to oil price swings in the 1980s and 1990s. Oil prices fell from $100 per barrel in 2014 to less than $30 per barrel in early 2016, sending the country’s economy into a tailspin from which it has yet to fully recover.
Sudan had the second-highest inflation rate in the world at the start of 2022, at 340.0 percent. Sudanese inflation has soared in recent years, fueled by food, beverages, and an underground market for US money. Inflationary pressures became so severe that protests erupted, leading to President Omar al-ouster Bashir’s in April 2019. Sudan’s transitional authorities are now in charge of reviving an economy that has been ravaged by years of mismanagement.