Arab Finance: Egypt's annual headline inflation rate rose to 33.9% in March, compared to 12.1% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on April 10th.

The persisting inflation was driven by higher prices of the food and beverages segment by 62.7% year-on-year (YoY) in March, in addition to the increased prices of housing, water, electricity, gas, and fuel by 8.8%.

The alcoholic beverage and tobacco segment recorded an annual growth of 12.1% YoY, while the healthcare segment jumped by 17.7%.

The education segment recorded 7.7% last March, while the transport segment saw an increase of 21.4% in prices.

Moreover, prices under the restaurants and hotels segment climbed by 48.2% YoY, while the prices of the clothing and footwear segment rose by 20.9% YoY.

Meanwhile, the monthly consumer price index (CPI) recorded 166.5 points in March 2023, signaling a 3.2% uptick as compared to February, data showed.

It is worth noting that the CAPMAS announced that the country’s annual headline inflation rate rose to 32.9% in February, compared to 10% in the same month of 2022.

in February 2023, Egypt’s annual core inflation rate rose to 40.3%, compared to 31.2% in January 2023, according to the Central Bank of Egypt (CBE).