Arab Finance: Egypt's annual headline inflation slightly declined to 31.8% in April, versus 33.1% in March, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS) on May 9th.

The inflationary trend was primarily fueled by a 37.6% year-on-year (YoY) surge in food and beverage prices, notably driven by a substantial 48% increase in sugar prices and a 46.6% rise in eggs and dairy prices.

Further contributing to the inflationary pressures, prices in the alcoholic beverage and tobacco segment surged by 92% compared to April 2023, while the furniture and home appliances sector recorded a significant 33.4% YoY increase in prices.

Despite the annual uptick, Egypt experienced a marginal decrease in the monthly inflation rate, dropping to 0.9% in April from 1% in March, with the consumer price index (CPI) reaching 223.6 points.

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