Page 15 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 13

Inflation Rate:

The first phase of the Economic Reform Program succeeded in controlling Inflation Rate in Egypt
inflationary constraints despite the hit of the COVID-19 pandemic, as the
inflation rate in Egypt decreased from 30.8% in 2017 to 14.8% in 2022.
Reducing the inflation rate was one of the main objectives of the monetary
policy adopted by the State due to the part it plays in attracting domestic
and foreign investments, and the direct impact it has on the economic
growth rate and the citizen’s standard of living.

• The relative increase in the inflation rate in Egypt during 2022 came as a

result of supply shocks resulting from the rise in international prices of
food commodities, especially those imported by Egypt such as wheat Source: Central Agency for Public Mobilization and Statistics (CAPMAS)
and edible oils, and the rise in global prices of energy and raw materials,
• By comparing the inflation rate in Egypt in 2022 with that of a group
in addition to the repercussions of the rise in the value of the USD
of regional and emerging countries, we find that Egypt achieved an
exchange rate since March 2022.
average low inflation rate as opposed to those countries.

Inflation Rate of Egypt vs. some of Regional and Emerging Countries in 2022

KSA South India Algeria Rwanda
2.5% Africa 6.7% 9.3% 17.7%
Egypt 6.7%
13.9%
Nigeria Turkey Ghana Argentina
18.8% 72.3% 31.3% 94.8%
(Urban areas)
Source: World data.info