Egypt’s annual headline inflation falls to 25.2% in July: CAPMAS
Updated 8/8/2024 9:00:00 AM
Arab Finance: Egypt’s annual headline inflation narrowed to 25.2% in July, compared to 38.2% in the same month of 2023, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on August 8th.
The annual inflation rate was driven by an increase of 28.6% in the food and beverage segment as prices of grains and bread rose by 32.4% in July.
Moreover, the prices of the alcoholic beverage and tobacco segment saw a 45.1% year-on-year (YoY) surge last month, and prices of the culture and entertainment segment surged by 48.8% YoY.
In addition, the prices of the restaurants and hotels segment were 31% higher than in July 2023, while the furniture and home appliances segment witnessed a 26.4% YoY increase in prices.
However, the monthly inflation rate recorded 0.5% in July, with the consumer price index (CPI) registering 226.7 points.
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