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Inflation in Egypt.
Transcript of Inflation in Egypt.
What Causes inflation?
The main causes of inflation are either excess aggregate demand (economic growth too fast) or cost push factors (supply side factors)
Aya Hazzaa & Habiba Khamis & NourAhmedKamal
The Definition of Inflation
As defined by the World Bank, Inflation reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.
INFLATION IN EGYPT
The Central Bank of Egypt recorded that Egypt’s core inflation rate reached 2.86% in February, compared to 1.31% in January, the highest core inflation rate since 2010.
Inflation; consumer prices (annual %) in Egypt was last measured at 7.12 in 2012, according to the World Bank. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.
This charts has the latest values, historical data, forecasts, charts, statistics, an economic calendar and news for Inflation - consumer prices (annual %) in Egypt.
Government and Inflation in Egypt
Inflation Occurs most in the month of ramadan.
Inflation in Egypt created by the government to increase fuel prices is what caused an increase in the cost of producing goods. Addressing comprehensive economic reform increases the supply of commodities and services – instead of raising the interest rates, which is used to fight the inflation resulting from an increase in cash supply, in order to increase savings and reduce demand
Sources at the ministry said that the 1% interest rate increase will lead to a rise in the cost of additional public debt interest at a rate of EGP 5.5m per day or EGP 2bn annually, along with EGP 550m in daily principal interest for the public debt
Demand pull inflation
Rising house prices
Printing more money
If the government put up taxes, such as VAT(Value Added Tax) and Excise duty, this will lead to higher prices, and therefore CPI(Consumer Price Index ) will increase.
Profit Push Inflation