URGENT: Egypt’s annual inflation down to 25.6% in August

Egypt’s Consumer Price Index (CPI) for the entire republic reached 231.1 points in August 2024, pushing the monthly inflation rate to 1.9 per cent and the annual inflation rate to 25.6 per cent, compared to 39.7 per cent in August 2023.

Several factors contributed to this rise, including a significant increase in vegetable prices by 14.3 per cent, transport services by 14.9 per cent, postal services by 6.0 per cent, household appliances by 2.8 per cent, dairy products, cheese, and eggs by 2.1 per cent, hospital services by 2.8 per cent, and fish and seafood by 1.4 per cent.

Fruit prices increased by 0.9 per cent, mineral water, soft drinks, and natural juices by 1.7 per cent, ready-made clothes by 1.2 per cent, shoe repairs by 1.5 per cent, actual rent by 0.4 per cent, and water and household-related services by 1.2 per cent.

Prices of electricity, gas, and fuels rose by 0.4 per cent, household furniture by 2.2 per cent, and medical appliances by 4.4 per cent. Private transport costs increased by 6.1 per cent, newspapers, books, and stationery by 0.7 per cent, and organised tours by 2.1 per cent.

Despite these rises, some price decreases occurred, including a 0.1 per cent drop in tobacco prices, grains and bread by 1.3 per cent, meat and poultry by 1.5 per cent, and oils and fats by 0.9 per cent. Prices for sugar and confectionery declined by 0.1 per cent.

Annual increases in food and beverages reached 28.1 per cent, driven by sharp rises in cereals and bread (32.5 per cent), meat and poultry (21.1 per cent), and dairy products (34.7 per cent). Vegetables saw the largest annual increase, with prices up by 44.2 per cent compared to the previous year.

Attribution: CAPMAS report 

Subediting: M. S. Salama