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· Goldman Sachs Group Inc said Egypt was one of the few countries that has managed controlling inflation despite the global examples of many countries experiencing vaulted rates of inflation especially in central and eastern Europe, the Middle East, and Africa
· Goldman Sachs noted that Egypt, Russia and Ukraine have been able to post a decline in inflation rates during April riding on the back of low food prices
Goldman Sachs Group Inc said Egypt was one of the few countries that has managed controlling inflation despite the global examples of many countries experiencing vaulted rates of inflation especially in central and eastern Europe, the Middle East, and Africa.
Goldman Sachs noted that Egypt, Russia and Ukraine have been able to post a decline in inflation rates during April riding on the back of low food prices. Significantly, inflation rates dropped in Egypt to 4.1 percent from 4.4 percent, in Russia from 5.8 percent to 5.5 percent, and from 8.5 percent to 8.4 percent in Ukraine.
Goldman Sachs estimates that Egypt will continue with the success. The country experienced 5.3 percent inflation in the fourth quarter of last year, plummeting to 3.9 percent in the second quarter of the year, and then rising to 4.8 percent in the third quarter before going down again to 4.4 percent in the fourth quarter.
