Latest news with #CAPMAS
Zawya
21 hours ago
- Business
- Zawya
Egypt's annual headline inflation hits 16.5% in May: CAPMAS
Arab Finance: Egypt's annual headline inflation recorded 16.5% in May, versus 13.5% in April, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS) on June 4th. The inflation rate was driven by a 11.2% year-on-year (YoY) jump in food and beverage prices, due to a 16% increase in grains and bread prices and a 10.3% increase in fish and seafood prices. Prices falling under the alcoholic beverage and tobacco segment surged by 15.6% compared to May 2024. Meanwhile, the housing, water, electricity, natural gas, and fuel sector recorded a 19.3% YoY increase in prices. As for the monthly inflation rate, it rose to 1.8% in May, with the consumer price index (CPI) reaching 258.4 points. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
a day ago
- Business
- Asharq Al-Awsat
Egypt's Headline Inflation Jumps to 16.8% in May
Egypt's annual urban consumer price inflation jumped to a greater-than-expected 16.8% in May from 13.9% in April, data from the state statistics agency CAPMAS showed on Wednesday. CAPMAS said it was releasing inflation figures six days earlier than usual, due to the Eid al-Adha holiday that begins on Thursday. The median forecast of 12 analysts polled by Reuters was for inflation to climb to 14.9%, mainly due to an unfavorable base effect. Annual inflation has plunged from a record high of 38% in September 2023, helped by an $8 billion financial support package agreed with the IMF in March 2024. Core inflation, which strips out volatile items such as fuel and some food types, climbed to 13.1% year on year in May from 10.4% in April, the central bank said. The fall in inflation led the Central Bank of Egypt to cut its overnight lending rate by 225 basis points to 26.0% at its April 17 meeting, and by another 100 basis points on May 22.
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
CAPMAS: Egypt's Exports to UAE Jump 46.9%
Taarek Refaat The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egyptian exports to the UAE rose to $3.3 billion in 2024, compared to $2.2 billion, year-on-year, a 46.9% increase. CAPMAS added that trade exchange between Egypt and the UAE also reached $6 billion during the same year. In a statement issued on the occasion of President Abdel Fattah El-Sisi's visit to Abu Dhabi Wednesday, the agency explained that Egyptian exports to the UAE increased to $3.3 billion in 2024, compared to $2.2 billion, a year earlier, with a 46.9% increase. While Egyptian imports from the UAE reached $2.7 billion in 2024, compared to $2.3 billion in 2023, a 16.8% increase. The agency's data also showed that the value of trade between Egypt and the UAE increased to $6 billion in 2024, compared to $4.5 billion in 2023, a 31.6% increase. The value of Emirati investments in Egypt reached $38.9 billion in the 2023/24 fiscal year, compared to $3 billion in the 2022/23 fiscal year. Meanwhile, the value of Egyptian investments in the UAE reached $1.4 billion in the 2023/24 fiscal year, compared to $1.7 billion in the 2022/23 fiscal year. The value of remittances from Egyptians working in the UAE reached $1.8 billion during the FY2023/24 compared to $2.1 billion during the FY2022/23. Meanwhile, the value of remittances from Emiratis working in Egypt reached $31.6 million during the FYFY2022/23. Egypt's population reached 107.7 million in June 2025, while the UAE's population reached 11.3 million during the same period. According to official mission estimates, the number of Egyptians residing in the UAE reached 975,000 by the end of 2023. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Egypt Today
2 days ago
- Business
- Egypt Today
Egypt's inflation rate hits 16.5 percent in May 2025
Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the Consumer Price Index (CPI) across the country rose to 258.4 points in May 2025, reflecting a 1.8 percent monthly increase from April. On an annual basis, Egypt's inflation rate climbed to 16.5 percent, up from 13.5 percent the previous month, driven largely by sharp price increases in fresh food, beverages, and transportation. Among the most impacted items were fruits, which spiked by 13.4 percent, followed by vegetables with a 2.1 percent increase, and fish and seafood up 2.4 percent. Meat and poultry rose 1.2 percent, while bottled drinks and juices climbed 1.3 percent, and ready-made meals increased 1.1 percent. In the clothing and footwear sector, prices of ready-made clothes rose by 2.9 percent, fabrics by 1.7 percent, and footwear by 1.2 percent. Housing-related costs also moved upward: actual rent increased 1.2 percent, maintenance and repair by 1.8 percent, electricity and gas by 2.1 percent, and water and other housing services by 0.7 percent. Household goods showed moderate increases, with appliances up 1.2 percent, furniture by 1.4 percent, and home maintenance services by 1 percent. Health expenses surged, with medical products and equipment up 6.9 percent, and outpatient services rising 1.2 percent. Transport costs were among the strongest contributors to inflation, as private vehicle expenses soared 6.6 percent, vehicle purchase costs rose 0.3 percent, and public transport services increased 1.3 percent. However, some price categories saw relief. Dairy, cheese, and eggs fell by 2.7 percent, and tobacco products dipped 0.1 percent. Small declines were also noted in household tools (0.1 percent), personal belongings (0.9 percent), and postal services (4.1 percent). Prices of audio-visual and IT equipment declined by 1.6 percent. Despite isolated declines, the overall trend in May reflects continued inflationary pressure across essential sectors, reinforcing concerns about the cost of living.
Economy ME
2 days ago
- Business
- Economy ME
Egypt's annual urban inflation climbs to 16.8 percent in May 2025, reports CAPMAS
Egypt's annual urban consumer price inflation surged to 16.8 percent in May, up from 13.9 percent in April, according to data released by the statistics agency CAPMAS on Wednesday. This increase in headline inflation exceeded Reuters' median forecast, which anticipated a rise to 14.9 percent based on the analysis of 12 experts, primarily driven by an adverse base effect. Annual inflation has significantly reduced from a record high of 38 percent in September 2023, aided by an $8 billion financial support package signed with the IMF in March 2024. The decline in inflation prompted the Central Bank of Egypt to lower its overnight lending rate by 225 basis points to 26.0 percent during its meeting on April 17, followed by another reduction of 100 basis points on May 22. Read more: Egypt reports record primary surplus of GDP at 3.1 percent from July to April 2025 Recent rate cuts In May 2025, Egypt's central bank cut its overnight interest rates by a less-than-expected 100 basis points, referencing an acceleration in economic growth during the first quarter alongside a slowdown in inflation. The Monetary Policy Committee (MPC) adjusted the overnight deposit rate to 24 percent and the lending rate to 25 percent, marking its second reduction this year after maintaining steady rates for a full year. Annual headline inflation nearly halved in February to 12.8 percent, largely due to a base effect following Egypt's receipt of a $24 billion real estate investment from the United Arab Emirates and the signing of an $8 billion financial support program with the International Monetary Fund. Since then, inflation has steadily increased, reaching 13.9 percent in April. 'Inflation is expected to continue declining throughout the remainder of 2025 and 2026, albeit at a constrained pace given the expected drag from implemented and planned fiscal consolidation measures in 2025, in addition to the relative persistence of non-food inflation,' the statement noted.
