• Latest
  • Trending

Egypt suffers inflation rise to 40.3% in May – Reports

June 12, 2023
Lucy Quist's bold new normal conference, returns on 25th October

Lucy Quist’s bold new normal conference, returns on 25th October

July 18, 2025
Global Media Alliance hosts high-level PR Fireside Chat to climax 2025 WPRD Festival

Global Media Alliance hosts high-level PR Fireside Chat to climax 2025 WPRD Festival

July 18, 2025
Asiedu Nketia criticizes Sam George over comments on Ablekuma North Violence

Asiedu Nketia criticizes Sam George over comments on Ablekuma North Violence

July 18, 2025
Make choices that represent Ghanaians – Ken Agyapong urges NPP delegates

Make choices that represent Ghanaians – Ken Agyapong urges NPP delegates

July 18, 2025
NPP needs divine purification, not delegates congress – Amenfi East MP Advises

NPP needs divine purification, not delegates congress – Amenfi East MP Advises

July 18, 2025
Galamsey Fight: Akufo-Addo Cleared Akonta Mining, But Mahama Orders Probe – Ing. Dr. Ashigbey

Galamsey Fight: Akufo-Addo Cleared Akonta Mining, But Mahama Orders Probe – Ing. Dr. Ashigbey

July 18, 2025
"I was greeted with outbreaks when I entered office" - Health Minister reflects on Ministry's prompt emergency responses

“I was greeted with outbreaks when I entered office” – Health Minister reflects on Ministry’s prompt emergency responses

July 18, 2025
Government Settles GH¢603m NHIS Arrears – Health Minister Announces

Government settles GH¢603m NHIS arrears – Health Minister announces

July 18, 2025
GHS confirms 21 New Mpox cases, total infections rise to 218

GHS confirms 21 New Mpox cases, total infections rise to 218

July 18, 2025
We will maintain the momentum on allowance payment to Nursing Trainees - Minister of Health assures

We will maintain the momentum on allowance payment to Nursing Trainees – Minister of Health assures

July 18, 2025
Health Minister to address Nation in Government Accountability Series today

Health Minister to address Nation in Government Accountability Series today

July 18, 2025
Eduwatch Commends Government for Reinstating PTAs in Pre-Tertiary Schools

Eduwatch Commends Government for Reinstating PTAs in Pre-Tertiary Schools

July 18, 2025
Happy Ghana
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home News Africa

Egypt suffers inflation rise to 40.3% in May – Reports

in Africa, News
Share on FacebookShare on TwitterShare on Whatsapp

According to reports released by the central bank on Sunday, Egypt’s annual core inflation increased to 40.3% in May from 38.6% in April.

Egypt’s inflation has increased significantly over the past year as a result of numerous currency devaluations, a protracted foreign currency shortage, and ongoing import delivery delays.

According to the report, it rose from 1.7% in April to 2.9% in May.

Egypt’s currency has lost half of its value since March 2022, when the effects of Russia’s invasion of Ukraine revealed Egypt’s economic weaknesses.

Egypt received a $3 billion Extended Fund Facility loan from the IMF in December. The loan will be paid back over 46 months.

Egypt also committed to selling public assets worth billions of dollars over the following four years as part of its December agreement with the IMF.

Since the agreement, there have been no significant sales, although the central bank increased overnight interest rates by 500 basis points.

In an IMF staff study released in December, it was stated that payments are subject to eight assessments, the first of which was scheduled for March 15, 2023.

The central bank figures come after data from statistics agency CAPMAS showed on Saturday that Egypt’s annual urban consumer inflation rate in May accelerated to 32.7% from 30.6% in April, approaching a record and higher than analysts had expected.

Month on month, urban inflation increased to 2.7% from 1.7% in April.

Meanwhile in Ghana, the International Monetary Fund approved a $3 billion, three-year loan package for Ghana on May 17, after nearly a year of negotiations.

According to the IMF, the package imposes tough conditions on the central bank, requiring it to cut inflation, end monetary financing and rebuild foreign.

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Joseph Tetteh Hughes Zutah: From Third Division to Premier League Glory – The Inspirational Journey of a Team Captain turned CEO

Next Post

Parliament announces plans to celebrate 30 years of uninterrupted parliamentary democracy

Next Post
Parliament settles GH¢8m out of GH¢13m owed ECG

Parliament announces plans to celebrate 30 years of uninterrupted parliamentary democracy

Search

No Result
View All Result

Listen Live

BBC Match of the Day Africa

Happy Ghana

Recent News

  • Lucy Quist’s bold new normal conference, returns on 25th October
  • Global Media Alliance hosts high-level PR Fireside Chat to climax 2025 WPRD Festival
  • Asiedu Nketia criticizes Sam George over comments on Ablekuma North Violence
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.