Egypt’s Annual Inflation Continues to Rise Reaching 32.9% in February

Egypt’s annual headline inflation continues to rise during February 2023, recording 32.9% from 26.5% in January  2023 and February 2022’s 9%, revealed the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

Annual urban consumer price inflation (CPI) surged to a higher-than-expected 31.9% in February, from 25.8% in January.

This marks the highest rating CAPMAS has given in almost five and half years.

On a monthly basis, inflation recorded 161.3 points in February 2023, recording a 7.1% increase compared to January 2022, the CAPMAS said.

CAPMAS attributed the increase in inflation to the rise in the prices of the cereals and bread group by 9.2%, the meat and poultry group by 29.7%, the fish and seafood group by 19.5%, the dairy, cheese and eggs group by 11.1%, and the oils and fats group by 4.3%.

In addition to the increase in the prices of the fruit group by 10.8 %, the vegetables group by 5.3%, the group of coffee, tea and cocoa by 7.0%, the smoke group by 0.2 %, the group of textiles by 2.9%, the group of shoes by 1.5%.