Egypt’s annual inflation climbs to 31.5% in April: CAPMAS
Updated 5/10/2023 9:16:00 AMArab Finance: Egypt's annual headline inflation rate jumped to 31.5% in April, compared to 14.9% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on May 10th.
Soaring inflation was attributed to higher prices of the food and beverages segment by 53.8% year on year (YoY) in April, along with the increased prices of housing, water, electricity, gas, and fuel by 8.3%.
The alcoholic beverage and tobacco segment saw an 18.4% annual surge, while the healthcare segment climbed by 17.6%.
Meanwhile, the education segment signaled a 7.7% increase last April, while the transport segment went up by 20.3%.
As regards prices under the restaurants and hotels segment, they rose by 48% YoY, while the prices of the clothing and footwear segment grew by 21.2% YoY.
The monthly consumer price index (CPI) notched 169.6 points in April 2023, marking a 1.8% month-on-month (MoM) uptick, the agency added.
It is worth noting that CAPMAS announced that the country’s annual headline inflation rate grew to 33.9% in March, compared to 12.1% in the same month of last year.
Related News
