Egypt's Inflation Slowdown: A Deeper Dive
In July, Egypt's annual urban consumer price inflation decreased to 13.9% from 14.9% in June, as reported by statistics agency CAPMAS. Monthly inflation also fell slightly as meat, poultry, fruits, and vegetables saw price drops while bread and cereals increased slightly.
Egypt has reported a decrease in its annual urban consumer price inflation to 13.9% in July from 14.9% in June, according to statistics from CAPMAS.
On a monthly scale, urban prices dipped by 0.5%, with significant reductions observed in meat and poultry, which saw a price drop of 4.9%, fruits by 11%, and vegetables by 7%. In contrast, bread and cereals rose by 0.4%, and seafood by 0.2%.
The annual inflation rate steeply declined from an alarming 38% in September 2023, following financial relief from a substantial $8 billion support package from the International Monetary Fund in March 2024.
(With inputs from agencies.)
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