The Prime Minister reviews the positive results of inflation rates in April
Prime Minister Dr. Mostafa Madbouly confirmed that the government will continue to follow the results of the work of the Committee for Regulating Markets and Commodity Prices, the results of which the government is keen to monitor regularly, directing the necessity of continuing to follow the markets and working to reduce prices, and that successive groups of goods will be identified, and measures will be taken. Steps that contribute to lowering their prices, thus reducing inflation rates.
This came during the meeting held by Dr. Mostafa Madbouly, to review the positive results regarding inflation rates during the month of April 2024, today, Thursday; In the presence of Dr. Hala Al-Saeed, Minister of Planning and Economic Development, Dr. Ahmed Kamali, Deputy Minister for Planning Affairs, Wael Ziadeh, Assistant Minister of Planning, and Dr. Ahmed Ashour, Supervisor of the Ministry’s National Accounts Unit.
During the meeting, the Minister of Planning presented a report that included positive results on developments in the inflation rate during the month of April 2024, noting that inflation rates continued to decline in the entire republic for the second month in a row on an annual and monthly basis as a result of government efforts to reduce the prices of basic commodities, as the inflation rate achieved On an annual and monthly basis, the lowest value since the beginning of the current fiscal year 2023/2024, reaching 31.8% on an annual basis, and 0.9% on a monthly basis as a result of the decline in food and drink prices for the first time during this year in April 2024.
The supervisor of the National Accounts Unit at the Ministry of Planning and Economic Development explained that food and drink prices achieved a negative monthly inflation rate during April 2024, driven by a decline in the prices of a number of strategic commodities, and adding some groups is also being considered. The commodities affecting the initiative to reduce commodity prices and the scope of work of the competent committee in this regard.
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