Egypt’s annual headline inflation falls to 25.6% in August: CAPMAS
Updated 9/10/2024 8:43:00 AM
Arab Finance: Egypt’s annual headline inflation shrank to 25.6% in August, compared to 39.7% in the same month of 2023, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on September 10th.
The annual inflation rate was driven by a year-on-year (YoY)increase of 28.1% in the food and beverage segment as prices of grains and bread rose by 32.5% in August and the prices of red meat and poultry rose 21.1%.
Moreover, the prices of the alcoholic beverage and tobacco segment saw a 37.6% YoY surge last month, and prices of the culture and entertainment segment surged by 49.7% YoY.
In addition, the prices of the restaurants and hotels segment were 31.4% higher than in August 2023, while the furniture and home appliances segment witnessed a 26% YoY increase in prices.
However, the monthly inflation rate recorded 1.9% in August, with the consumer price index (CPI) registering 231.1 points.
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