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H.C. predicts 10% fuel price hike and faster inflation
HC Securities and Investment Company predicted that the Egyptian government will raise the prices of gasoline and diesel by 10% due to rising oil prices following Saudi Arabia's closure of the East-West oil pipeline, which led to a shortage in global supply. The report noted that the increase in energy prices has caused inflation to rise to approximately 9.89% since the beginning of the year, with expectations that it will continue through September and October. It is anticipated that monthly inflation will increase by 1.3% in September and 2.1% in October, driven by higher diesel and gasoline prices. Additionally, it highlighted that the Egyptian debt market remains attractive to investors despite inflationary pressures. The company forecasts that the Central Bank of Egypt will raise interest rates by 1% in the last quarter of 2026 to combat high inflation, after maintaining the deposit rate at 19% and the lending rate at 20% in its most recent meeting.
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