The slowdown in inflation in the cities of Egypt at the lowest level in two years

Inflation in the cities of Egypt delayed to 24.1% in December last year, which is the lowest level in two years, according to the data of the Central Public Mobilization Agency and Statistics released today, Thursday. The slowdown is the second in five months since the inflation rate began to accelerate in August, after the government increases for fuel prices, train tickets and subway were recently reflected on consumer prices lectures. It previously increased the price of a 300% baking bread at the end of May, in a step that is the first in more than three decades. On a monthly basis, inflation of cities delayed to 0.2% during December from 0.5% in November last year. Later on Thursday, the data received from the Central Bank of Egypt revealed that the basic inflation index – which excludes volatile elements – was delayed to 23.2% in November. A new social package that faces the inflationary pressure of Egypt with social packages that include an increase in salaries and the payment of bonuses. Egyptian Premier Mustafa Madbuly said last night that his government has a guidance from the president to develop a vision of a new social package, and we are currently working on it and discuss it with the Minister of Finance, and we will announce it during the upcoming period. ” Egypt applied two packages to alleviate the living liabilities of the citizens with a value of 240 billion pounds, in September 2023 and February 2024. The current Egyptian budget data revealed 2024-2025 over the allocation of more than 50% of the state’s takeovers for social spending, social protection and human development, 635.9.9 billion pounds. pounds in the past financial year, at a rate annual growth 20%. The execution of the most promising commodity groups in the consumer price basket for the total country (annually): The prices of pills and bread increased by 24.36%. Vegetable prices rose 4.4%, meat and poultry by 19.8%.