Arab Finance: Egypt's annual headline inflation hit 23.4% in December, compared to 25% in November, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in a press release on January 9th.

This recorded rate was driven by the 19.2% year-on-year (YoY) increase in food and beverage prices last December, as prices of meat and poultry rose by 19.8% and vegetable prices went up by 4.4%.

Additionally, the prices of the alcoholic beverage and tobacco segment were 29.1% higher than in December 2023, and the restaurants and hotels segment recorded a surge of 28.2% YoY.

The healthcare segment recorded a 35% YoY increase in prices, while the education sector remained stable at 12.3%.

As for the housing, water, electricity, natural gas, and fuel segment, it saw a YoY growth of 22.5% in prices last December.

Meanwhile, the monthly inflation rate hit 0.0% in December, versus 0.1% in November, with the consumer price index (CPI) recording 239.7 points.

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