Egypt’s inflation rate continues to surge amid Ukraine war

May 9, 2022, 2:16 PM | Updated: May 10, 2022, 2:18 am

CAIRO (AP) — Egypt’s annual inflation rate continues to surge amid Russia’s ongoing war in Ukraine that has shaken the global economy, the country’s statistics bureau announced Tuesday.

The inflation rate was up 2.8%, reaching around 14.9% in April, up from 12.1% in March, the Central Agency for Mobilization and Statistics said.

Prices have increased in many sectors — from fuel, electricity and food items to housing, medical services and entertainment. The hikes are driven by Russia’s war on Ukraine, which rattled world markets and caused oil prices to soar, threatening food supplies and livelihoods of people across the world.

Food and beverage prices increased by 8.1% in April, compared to March. Prices of bread and grains increased by 3.6%, while housing, electricity and energy prices increased by 1.1% , the data showed.

The higher inflation has inflicted heavy burdens on consumers, especially lower-income households, and particularly for everyday necessities. Nearly 30% of Egyptians live in poverty, according to official figures.

Most of Egypt’s more than 103 million population have suffered from price hikes since the government embarked on an ambitious reform program in 2016 to overhaul the country’s battered economy.

That program included painful austerity measures like flotation of the national currency and slashing subsidies of fuel, water and electricity.

A March decision by the Central Bank’s decisions to raise its main interest rate and to devalue the local currency against the U.S. dollar has added to people’s sufferings. The bank said its decision was meant to fight inflation.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Photo from Flickr...
Associated Press

Washington kills 2 wolves to prevent preying on cattle

Biologists working for Washington have killed two members of the Leadpoint wolf pack this week in an effort to stop the pack from preying on cattle
12 hours ago
Associated Press

2 men arrested in probe of boy’s killing in attack on SUV

LOS ANGELES (AP) — Two men have been arrested in the investigation of the killing of a 12-year-old boy in an shooting attack last year on an SUV near a school playground in Los Angeles, police said Friday. Police said Friday that Damian Ulysses Martinez, 21, and Gabriel Martinez, 19, both of the community of […]
12 hours ago
Associated Press

Hack puts Latin American security agencies on edge

MEXICO CITY (AP) — A massive trove of emails from Mexico’s Defense Department is among electronic communications taken by a group of hackers from military and police agencies across several Latin American countries, Mexico’s president confirmed Friday. The acknowledgement by President Andrés Manuel López Obrador comes after Chile’s government said last week that emails had […]
12 hours ago
Associated Press

New law aims to make California haven for transgender youth

SACRAMENTO, Calif. (AP) — A new law aims to stop other states from punishing children who come to California for transgender surgeries and other gender-affirming care, a move that will intensify conflicts between Democratic Gov. Gavin Newsom and other Republican governors amid the country’s escalating culture war. Newsom signed the law on Thursday, but it […]
12 hours ago
Associated Press

Illinois’ governor race echoes U.S. abortion, crime debates

CHICAGO (AP) — Illinois Gov. J.B. Pritzker warned that his Republican opponent is a far-right politician who would take the state backward while state Sen. Darren Bailey asked voters to consider whether the Democratic incumbent’s first term has improved their lives as the two candidates met for an online forum Friday. The event hosted by […]
12 hours ago
Associated Press

Louisiana man admits kidnapping and plan to dismember gays

LAFAYETTE, La. (AP) — A 21-year-old Louisiana man has pleaded guilty to the grisly kidnapping of a teen he met through a dating app for gay and bisexual men, and his sworn statement says he planned to kill and dismember gays until he was caught or killed. Federal prosecutors agreed to drop hate crime and […]
2 days ago

Sponsored Articles

Anacortes Christmas Tree...

Come one, come all! Food, Drink, and Coastal Christmas – Anacortes has it all!

Come celebrate Anacortes’ 11th annual Bier on the Pier! Bier on the Pier takes place on October 7th and 8th and features local ciders, food trucks and live music - not to mention the beautiful views of the Guemes Channel and backdrop of downtown Anacortes.
Swedish Cyberknife Treatment...

The revolutionary treatment of Swedish CyberKnife provides better quality of life for majority of patients

There are a wide variety of treatments options available for men with prostate cancer. One of the most technologically advanced treatment options in the Pacific Northwest is Stereotactic Body Radiation Therapy using the CyberKnife platform at Swedish Medical Center.
Work at Zum Services...

Seattle Public Schools announces three-year contract with Zum

Seattle Public Schools just announced a three-year contract with a brand-new company to the Pacific Northwest to assist with their student transportation: Zum.
Swedish Cyberknife 900x506...

June is Men’s Health Month: Here’s Why It’s Important To Speak About Your Health

According to the Centers for Disease Control and Prevention, men in the United States, on average, die five years earlier than women.
...

Anacortes – A Must Visit Summertime Destination

While Anacortes is certainly on the way to the San Juan Islands (SJI), it is not just a destination to get to the ferry… Anacortes is a destination in and of itself!
...

Ready for your 2022 Alaskan Adventure with Celebrity Cruises?

Celebrity Cruises SPONSORED — A round-trip Alaska cruise from Seattle is an amazing treat for you and a loved one. Not only are you able to see and explore some of the most incredible and visually appealing natural sights on the planet, but you’re also able to relax and re-energize while aboard a luxury cruise […]
Egypt’s inflation rate continues to surge amid Ukraine war