Analysts revealed that the current indicators of inflation indicate the need for Egyptians to tighten their belts in anticipation of the continuous rise in inflation rates, especially that The global inflation crisis has not yet worsened and has not reached the entire Egyptian market.
The Central Agency for Public Mobilization and Statistics said that the annual inflation rate for the whole of the republic recorded 6.2% for the month of November 2021, compared to about 6.3% for the same month of the previous year. The annual inflation rate for the total of the Republic was 7.3% for the month of October 2021.
On a monthly basis, the general consumer price index for the whole of the Republic reached the level of 118 points for the month of November 2021, maintaining the general level of prices for the month of October 2021.
The Statistics Authority attributed the stability to an increase in the prices of some items, offset by a decrease in others. Where the prices of the oils and fats group increased by 13.7%, the cereals and bread group by 3.2%, the dairy, cheese and eggs group by 1.0%, the ready-made clothes group by 2.7%, the hospital services group by 1.5%, the outpatient services group by 0.8%, the products group Medical devices and equipment by 0.4%, ready-made meals group by 0.8%.
On the other hand, the prices of the vegetables group decreased by 11%, the prices of the fruit group decreased by 5.1%, and the prices of the meat and poultry group decreased by 3.4%.
Meanwhile, the Central Bank of Egypt announced that the annual core inflation rate recorded 5.8% in November 2021, compared to 5.2% in October 2021. He explained that the basic consumer price index, prepared by the Central Bank, recorded a monthly rate of 0.5% in November 2021, compared to a rate of zero in same month of the previous year and a monthly rate of 2.1% in October 2021.
Economist Dr. Imad Kamal believes that the current time requires efforts at the official and popular levels to contain this wave of inflation.
In his interview with Al Arabiya.net, he indicated that on the official level, the government is required to intensify its control over the markets and stop some traders from raising prices without any justification, in addition to maintaining the provision of goods in the markets.
Indeed, the Consumer Protection Agency, with its various branches, jointly with all the regulatory authorities such as the Supply Directorates, the Supply Investigations, the Health Directorates, the Pharmaceutical Inspection Departments and the Administrative Control Department, have launched 91 monitoring campaigns in 18 governorates. The Consumer Protection Agency stated that the campaigns resulted in the issuance of 310 minutes of violation of Consumer Protection Law No. (181) of 2021.
Kamal explained, as for the popular level, the citizen is required to follow the policy of rationalization and spending on providing strategic goods only, especially since the times of global inflation have become certain and that the coming period will witness increases in the prices of many imported goods from abroad.
He pointed out that the coming period requires the citizen to balance spending and the level of income in light of the rise in the prices of a large number of goods and services, for reasons some internal and others external.
