Egypt’s annual headline inflation speeds up to 36.8% in June: CAPMAS
Updated 7/10/2023 9:13:00 AMArab Finance: Egypt's annual headline inflation rate climbed to 36.8% in June, compared to 14.7% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in a press release on July 10th.
Persisting inflation was driven by the 64.9% year-on-year (YoY) increase in the food and beverage segment last June, resulting from the 92.1% hike in prices of meat and poultry, in addition to the 83.6% increase in prices of seafood.
Additionally, the prices of dairy products and eggs rose by 67% YoY, while bread and grains saw a 58.9% increase in prices.
Meanwhile, the prices of the alcoholic beverage and tobacco segment were 45.4% higher than in June 2022, and the restaurants and hotels segment recorded an increase of 49% YoY.
The transport segment registered a 23.2% surge in prices, while the education segment remained unchanged at 7.7%.
The monthly consumer price index (CPI) recorded 177.6 points in June 2023, rising by 2% month-on-month (MoM).
In May, Egypt's annual headline inflation rate climbed to 33.7%, compared to 15.3% in May 2022, according to CAPMAS.
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