Egypt’s annual headline inflation jumps to 33.7% in May: CAPMAS
Updated 6/10/2023 9:58:00 AM
Arab Finance: Egypt's annual headline inflation rate climbed to 33.7% in May, compared to 15.3% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in a press release on June 10th.
Persisting inflation was driven by the 58.9% year-on-year (YoY) hike in prices under the food and beverages segment last May, in addition to the 6.4% increase in prices of housing, water, electricity, gas, and fuel.
The prices of the clothing and footwear segment rose by 22.2% YoY, while the healthcare segment saw an 18% increase in prices.
Meanwhile, the prices of the alcoholic beverage and tobacco segment were 23.2% higher than in May 2022, and the restaurants and hotels segment recorded an increase of 48.8% YoY.
The prices under the education segment were up by 7.7% last May, while the transport segment registered a 25.1% surge in prices.
The monthly consumer price index (CPI) recorded 174.1 points in May 2023, rising by 2.7% month-on-month (MoM).
In April, Egypt's annual headline inflation rate doubled to 31.5%, compared to 14.9% in April 2022, according to CAPMAS.
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