12 Aug 2011
(MENAFN) Egypt’s Central Bank said that since food prices declined, last month, yearly urban inflation fell to 10.4 percent from June’s 11.8 percent, recording the lowest level in seven months, reported Arab News.
The bank added that in the year to July, food and beverage prices slowed down 16.7 percent from 19 percent in the previous month, moreover, in the period, core annual inflation, also slowed down to 8.71 percent from 8.94 percent in June.
It also said that real gross domestic product (GDP) fell by 4.2 percent in the fiscal third quarter registering its first year-on-year contraction since the country released its first quarterly GDP data in 2001/2002.
It is worth noting that in July, the central bank kept its key lending rate at 9.75 percent and the deposit rate at 8.25 percent.
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more