Egypt’s annual inflation down to 26.3% in Oct

Egypt’s inflation eased in October 2024, with the monthly inflation rate dropping to 1.5 per cent, down from 2.3 per cent in September. The consumer price index (CPI) reached 240.0 points in October, while the annual inflation rate stood at 26.3 per cent, a significant decline from 38.5 per cent in the same period in the previous year.

Key monthly price changes included a 2.1 per cent drop in fruit prices, while meat and poultry prices rose by 3.3 per cent. Other increases were seen in seafood (2.1 per cent) and dairy (2.0 per cent).

Annual price increases were more pronounced, with food and beverages rising by 26.9 per cent, led by significant hikes in grains and bread by 36.7 per cent, and vegetables by 39.1 per cent. Moreover, housing and utilities also saw a 20.3 per cent rise, driven by higher energy costs.

Attribution: Central Agency for Public Mobilisation and Statistics (CAPMAS)

Subediting: M. S. Salama