Egypt’s annual headline inflation accelerates to 39.7% in August: CAPMAS
Updated 9/10/2023 9:24:00 AM
Arab Finance: Egypt's annual headline inflation widened to 39.7% in August, 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 September 10th.
Persisting inflation was driven by the 71.9% year-on-year (YoY) increase in the food and beverage segment last August, resulting from the 85.9% hike in seafood prices, in addition to the 97% increase in prices of meat and poultry.
Additionally, the prices of the alcoholic beverage and tobacco segment were 57.6% higher than in August 2022, and the restaurants and hotels segment recorded an increase of 49.5% YoY.
Meanwhile, the furniture and home appliances segment registered a 42% YoY surge in prices, while the culture and entertainment segment saw an annual increase of 27.9%.
On the other hand, the annual increase in the education segment remained stable at 7.7% during August.
Meanwhile, the monthly consumer price index (CPI) recorded 184 points in August, rising by 1.6% month-on-month (MoM).
It is worth noting that Egypt's annual headline inflation surged to 38.2% in July, compared to 14.6% in the same month of 2022.
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