Arab Finance: Egypt’s annual headline inflation rate increased to 21.9% in December 2022, compared to a record of 6.5% in December 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on January 10th .
The CAPMAS ascribed the year-on-year (YoY) increase in inflation to higher prices of the food and beverages segment by 37.9%, the prices of the housing, water, electricity, gas, and fuel by 6.7% and the healthcare segment by 13.6%.
In addition, the alcoholic beverage and tobacco segment recorded an increase of 14.2% YoY.
The education segment recorded an increase of 7.7%, while the restaurants and hotels segment went up by 33.1%.
The transport and communications segments recorded an increase of 17.3% and 0.7%, respectively.
Moreover, the clothing and footwear segment recorded an increase of 15.6% YoY.
Furthermore, the monthly consumer price index (CPI) recorded 143.6 points in December, marking a 2.1% growth rate as compared to November, the CAPMAS noted.
It is noteworthy that Egypt's annual headline inflation rate rose to 19.2% in November 2022, compared to 6.2% in the same month of 2021.
