• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Egypt’s inflation hit an all-time high of 38% in September

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
42
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

US Open: Osaka Reaches Last Four; Anisimova Upsets Swiatek to Reach Semis

GSE Composite Index Advances as GCB Surpasses 70% YTD Return

FIFA Unveils Dynamic Pricing for 2026 World Cup Tickets Ranging from $60 to $6,730

Egypt’s inflation hit an all-time high of 38% in September

In September, Egypt experienced a historic high in annual urban consumer price inflation, reaching 38.0%, up from the 37.4% recorded in August, surpassing the expectations of analysts.

According to the country’s statistics agency CAPMAS this marks the fourth consecutive month of record-high inflation figures, as reported on the central bank website, which maintains data dating back to 2000.

Before the release of this data, a median forecast from a poll of 18 analysts had indicated that annual urban consumer inflation was expected to rise to 37.6% in September.

Before inflation surged in June, the previous high was recorded at 32.95% in July 2017.

On a monthly basis, inflation also picked up speed, with prices rising by 2.0% compared to a 1.6% increase in August, according to Allen Sandeep of Naeem Brokerage. This marked the fastest pace of increase since June, Reuters reported.

Within the category of food and beverages, there were significant month-on-month increases, with vegetable prices surging by 19.2%, fruits by 5.4%, dairy products by 5.4%, and sugar items by 2.9%, as highlighted by Sandeep.

To combat food inflation, the government announced on Monday that it had reached an agreement with private producers and retailers to reduce prices on essential foods by 15-25% and exempt them from customs duties for six months.

The rapid money supply growth over the past two years has contributed to a swift increase in prices and has led to the Egyptian pound losing half its value against the US dollar since early last year.

This steep rise in prices has now added to the burden of families who have been struggling to make ends meet.

The economic crisis in this import-dependent nation was triggered by Russia’s invasion of Ukraine which disrupted vital food supplies and created instability in global markets.

Before the current crisis, the World Bank reported that 30 per cent of Egyptians were already living below the poverty line, and an additional 30 per cent were at risk of slipping into poverty.

Egypt, the most populous country in the Arab world, has relied on financial assistance in recent years, receiving bailouts from both Gulf allies and the International Monetary Fund (IMF).

Last year, the IMF granted Egypt a $3 billion loan, contingent upon the country adopting a permanent shift to a flexible exchange rate regime.

Egypt’s external debt has tripled over the past decade, reaching an all-time high of $165.4 billion this year, as reported by the Ministry of Planning.

Tags: Egypt's inflationEgypt's inflation hit an all-time high of 38% in September
No Result
View All Result

Highlights

Ghana Races Toward Single-Digit Inflation in Stunning Economic Rebound

Communications Minister Threatens to Revoke Multichoice Licence by September 6

Ghana Cedi’s World-Beating Performance Upended by Imports Surge

Your Savings as Your Launchpad for a Better Financial Future

US Open: Alcaraz and Djokovic set up Blockbuster Semi-final

Deloitte: Premier League Clubs Exceed £3 Billion in Record Summer Spending

Trending

Features

US Open: Osaka Reaches Last Four; Anisimova Upsets Swiatek to Reach Semis

September 4, 2025

US Open: Osaka Reaches Last Four; Anisimova Upsets Swiatek to Reach Semis The US Open quarterfinals delivered...

GSE Composite Index Advances as GCB Surpasses 70% YTD Return

September 4, 2025

FIFA Unveils Dynamic Pricing for 2026 World Cup Tickets Ranging from $60 to $6,730

September 4, 2025
A market woman exchange Ghana cedi with a customer in a market in Accra, Ghana, on November 3, 2021.

Ghana Races Toward Single-Digit Inflation in Stunning Economic Rebound

September 4, 2025

Communications Minister Threatens to Revoke Multichoice Licence by September 6

September 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.