Egypt’s annual headline inflation drops to 25% in November: CAPMAS
Updated 12/10/2024 8:35:00 AM
Arab Finance: Egypt’s annual headline inflation rate eased to 25% in November 2024, compared to 35.9% in the same month of 2023, according to a press release by the Central Agency for Public Mobilization and Statistics (CAPMAS) on December 10th.
The report highlighted significant year-on-year (YoY) changes across various economic sectors.
The food and beverage category prices rose by 23.3% in November, while the alcoholic beverages and tobacco segment recorded a 29.6% increase.
Clothing and footwear prices climbed by 24.6% last November, while prices under the healthcare segment surged by 31.3% YoY.
Notably, transport costs saw a sharp rise of 37.6%, and the housing, water, electricity, gas, and fuel segment experienced a 21.8% hike.
Similarly, the restaurants and hotels segment increased by 30.4%, while communication services registered a relatively modest rise of 12.5%.
Education costs remained stable at an annual growth rate of 12.3%.
On a monthly basis, the consumer price index (CPI) recorded 239.8 points in November 2024.
In October 2024, Egypt’s annual headline inflation rate dropped to 26.3% from 38.5% in the corresponding month of 2023.
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