Egypt’s annual headline inflation rises to 38.2% in July: CAPMAS
Updated 8/10/2023 9:13:00 AM
Arab Finance: Egypt's annual headline inflation surged to 38.2% in July, compared to 14.6% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in a press release on August 10th.
Persisting inflation was driven by the 68.2% year-on-year (YoY) increase in the food and beverage segment last July, resulting from the 83.4% hike in prices of seafood, in addition to the 76.3% increase in prices of coffee, tea, and cocoa.
Additionally, the prices of the alcoholic beverage and tobacco segment were 51.9% higher than in July 2022, and the restaurants and hotels segment recorded an increase of 50.3% YoY.
Meanwhile, the furniture and home appliances segment registered a 41.5% YoY surge in prices, while the culture and entertainment segment saw an annual increase of 29.4%.
The monthly consumer price index (CPI) recorded 181.1 points in July 2023, rising by 2% month-on-month (MoM).
In June, Egypt's annual headline inflation rate climbed to 36.8% in June, compared to 14.7% in the same month of 2022, according to CAPMAS.
Related News
