Category: Trucking News

Egypt Inflation at Nine-Year Low Gives Scope for More Rate Cuts

(Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.Egypt’s inflation rate slowed to its lowest level in over nine years, offering fresh ammunition for the central bank to move ahead with another rate cut when it meets next week.Consumer prices in urban parts of the country rose by 3.1% in October compared to 4.8% in September, according to the state statistics agency, CAPMAS. The rate was the lowest since September 2010, according to data compiled by Bloomberg.The month-on-month rate accelerated to 1% compared to September. The decline reflected the high base effect from last year as well as a sharp easing in food and beverage prices, which constitute the largest component of the consumer price index.With the latest slowdown in inflation, the “real interest rate is almost 10% -- one of the highest globally,” said Allen Sandeep, director of research...