Economic Expert: Falling Inflation Does Not Mean Falling Prices
Economic expert Wael Fahmy confirmed that the decline in the inflation rate for October to 77.4% does not mean that prices are falling, but rather indicates a “slowing of their rate of increase” compared to the previous year.
In a post on Facebook, he said: “From a statistical perspective, the drop from astronomical levels such as 218% in 2024 to 77.4% is partly because the Central Bureau of Statistics compares current prices with last year’s prices (October 2024), which were already very high. Therefore, the new percentage increase appears ‘smaller’ statistically, not economically, even though prices, from a pure economic standpoint, remain extremely high and burdensome for citizens.”
He explained that despite this decline in the “index,” the cost of living remains very high. Field reports indicate that commodity prices in the markets have tripled and are still rising, albeit at a slower pace than during the peak of the crisis in 2024.
