Arab Finance: Egypt’s annual headline inflation narrowed to 26% in September, compared to 40.3% in the same month of 2023, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on October 9th.

The annual inflation rate was driven by a year-on-year (YoY) increase of 27.4% in the food and beverage segment as prices of grains and bread rose by 34.7% in September and the prices of red meat and poultry rose by 22.3%.

Moreover, the prices of the alcoholic beverage and tobacco segment saw a 35.9% YoY surge last month, and prices of the culture and entertainment segment surged by 49% YoY.

In addition, the prices of the restaurants and hotels segment were 31.1% higher than in September 2023, while the furniture and home appliances segment witnessed a 25.5% YoY increase in prices.

However, the monthly inflation rate recorded 2.3% in September, with the consumer price index (CPI) registering 236.5 points.

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