Arab Finance: Egypt's annual headline inflation rate rose to 32.9% in February, compared to 10% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on March 9th.

The CAPMAS attributed the accelerated inflation to higher prices of the food and beverages segment by 61.5%, the prices of the housing, water, electricity, gas, and fuel by 8.1%, and the healthcare segment by 16.8%.

Moreover, the alcoholic beverage and tobacco segment recorded an increase of 14.2% YoY.

The education segment grew by 7.7%, while the restaurants and hotels segment rose by 50.2%.

The transport segment recorded an increase of 19.4%, while the prices of the clothing and footwear segment jumped by 18.9% YoY.

The monthly consumer price index (CPI) recorded 161.3 points in February 2023, marking a 7.1% growth as compared to January, data showed.

It is worth noting that the CAPMAS announced that Egypt’s annual headline inflation rate increased to 26.5% in January 2023, compared to a record of 8% in January 2022.