January 10, 2024

Egypt CPI Inflation 33.7% y-o-y (consensus 33.4%) in Dec-23

- Egypt's CPI inflation in December 2023 slowed to 33.7% year-on-year but still exceeded the consensus estimate by 0.3pp. It is the lowest growth since May 2023.
- Inflation is close to the one-year average yet stands 9.90 percentage points above the long-run average.

November 30, 2023

Egypt M2 Money Supply 20.9% y-o-y in Oct-23

- Egypt's M2 Money Supply growth in October 2023 was rapid at 20.9% year-on-year, but that is still the lowest since February 2022 and below average.
- The slower growth in the M2 Money Supply may indicate a welcome easing of inflationary pressures.

November 11, 2023

Egypt CPI Inflation 35.8% y-o-y (consensus 37.1) in Oct-23

- Egypt's CPI inflation rate for October 2023 stood at 35.8% year-on-year, slightly below the consensus forecast of 37.1%. This marks the lowest growth since June 2023 and indicates a potential stabilization in price increases.
- However, the current inflation rate remains painfully high, exceeding the one-year average by 4.37 percentage points and surpassing the long-run average by 19.16 percentage points, suggesting persistent inflationary pressures beyond historical trends.

October 31, 2023

Egypt M2 Money Supply 23.04% y-o-y in Sep-23

- Egypt's M2 Money Supply grew at the rapid year-on-year rate of 23.04% in September 2023, although that is the slowest since March 2022 and a decline from the previous reading of 24.38%.
- Despite the slowdown, the current growth rate remains 0.55 percentage points above the long-run average, indicating ongoing expansion.