Arab Finance: Egypt’s annual headline inflation rate increased to 26.5% in January 2023, compared to a record of 8% in January 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on February 9^th.

The CAPMAS ascribed the year-on-year (YoY) increase in inflation to higher prices of the food and beverages segment by 48.1%, the prices of the housing, water, electricity, gas, and fuel by 7.2%, and the healthcare segment by 15.1%.

In addition, the alcoholic beverage and tobacco segment recorded an increase of 13.9% YoY.

The education segment recorded an increase of 7.7%, while the restaurants and hotels segment went up by 42.8%.

The transport segment recorded an increase of 18.5%.

Moreover, the clothing and footwear segment recorded an increase of 17.1% YoY.

Furthermore, the monthly consumer price index (CPI) recorded 150.6 points in January 2023, marking a 4.9% growth as compared to December 2022, the CAPMAS noted.

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