Egypt’s inflation trend moving downward – PM

Prime Minister Moustafa Madbouly said on Thursday that Egypt’s inflationary trend is now on “a downward trajectory,” with inflation rates reaching 23.4 per cent in December compared to 25 per cent in November.

Speaking to a press conference, Prime Minister Madbouly highlighted that there was no monthly increase in inflation for December, suggesting that inflationary pressures are stabilising. He also expressed confidence in further reductions in inflation rates in the near future, signaling a positive outlook for Egypt’s economic recovery.

This statement comes as part of the government’s ongoing efforts to address rising costs and improve economic conditions for citizens.

Attribution: Amwal Al Ghad English