Egypt’s annual headline inflation jumps to 38% in September: CAPMAS
Updated 10/10/2023 8:45:00 AMArab Finance: Egypt's annual headline inflation rose to 38% in September, compared to 15% in the same month of 2022, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in a press release on October 10th.
Persisting inflation was driven by the 73.6% year-on-year (YoY) increase in the food and beverage segment last September, resulting from the 80.2% hike in seafood prices, in addition to the 92.8% increase in prices of meat and poultry.
The prices under the housing, water, electricity, gas and fuel segment saw an increase of 7.1% YoY last September, while the education segment recorded an annual surge of 11.3%.
Additionally, the prices of the alcoholic beverage and tobacco segment were 55.1% higher than in September 2022, and the restaurants and hotels segment recorded an increase of 43% YoY.
Also, the culture and entertainment segment saw an annual surge of 34.1%, whereas the furniture and home appliances segment registered a 38.1% YoY increase in prices.
It is worth noting that Egypt's annual headline inflation went up to 39.7% in August, compared to 15.3% in the same month of 2022.
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