Arab Finance: Egypt's annual headline inflation rate accelerated to 33.9% in March, compared to 12.1% in the same month of 2022, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The untamed inflation was driven by higher prices of the food and beverages segment by 62.7% year-on-year (YoY) in March, while prices under the restaurants and hotels segment climbed by 48.8%.

The furnishing segment recorded an annual growth of 36.4% YoY, while the transportation segment jumped by 24.4%.

The closing and footwear segment recorded 20.9% last March, while the health segment saw an increase of 17.7% in prices.

Other goods and services’ prices soared by 29% YoY.