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Change in per capita GDP of Egypt, 1820–2018. Figures are inflation-adjusted to 2011 International dollars. From the 1850s until the 1930s, Egypt's economy was heavily reliant on long-staple cotton, introduced in the mid-1820s during the reign of Muhammad Ali (1805–49) and made possible by the switch from basin irrigation to perennial, modern irrigation. [24]
Egypt is the world’s largest wheat importer, with most of its supplies traditionally coming from eastern Europe. Egypt's inflation reaches record high of 38.2% in July, government data shows ...
Inflation in New Zealand exceeded forecasts in July 2022, reaching 7.3%, which is the highest since 1990. [232] Economists at ANZ reportedly said they expected faster interest rate increases to counteract inflationary pressures. [233] In Fiji, inflation rose to 4.7% in April 2022 compared to –2.4% in 2021. [234]
For example, a sudden decrease in the supply of oil, leading to increased oil prices, can cause cost-push inflation. Producers for whom oil is a part of their costs could then pass this on to consumers in the form of increased prices. [85] Inflation expectations play a major role in forming actual inflation. High inflation can prompt employees ...
Egypt’s annual inflation rate set a record high in June, as the most populous Arab country continues to battle price hikes and a depreciating currency, the Egyptian statistics bureau said Monday.
Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a ...
In Egypt, a boy was killed from a gunshot to the head after Egyptian police intervened in violent demonstrations over rising food prices that gripped the industrial city of Mahalla on 8 April 2008. Large swathes of the population have been hit as food prices, and particularly the price of bread, have doubled over the last several months as a ...
(Bloomberg) -- Egypt’s non-oil private sector economy had its worst performance in two years as demand slumped after a sharp spike in prices and the pound’s devaluation while businesses ...