URGENT: Egypt’s annual inflation slows to 25%

Egypt’s general consumer price index (CPI) for November 2024 stood at 239.8 points, reflecting a slight 0.1 per cent decline compared to October 2024.

On an annual basis, inflation eased to 25.0 per cent in November 2024, down from 26.3 per cent in October 2024.

Monthly Changes (November 2024 compared to October 2024)

• Food and Beverages: This sector saw a 2.8 per cent decline, driven by decreases in the prices of grains and bread (0.3 per cent), fruits (0.4 per cent), meat and poultry (3.0 per cent), and vegetables (12.4 per cent). However, oils and fats rose by 2.0 per cent, coffee, tea, and cocoa increased by 0.8 per cent, sugar and sugary foods grew by 0.2 per cent, and mineral water, soft drinks, and natural juices climbed by 2.4 per cent.
• Clothing and Footwear: This sector rose by 1.7 per cent, driven by a 1.3 per cent increase in fabrics, a 1.6 per cent rise in ready-made garments, a 0.9 per cent increase in other clothing and accessories, and a 2.1 per cent rise in footwear. Shoe repair services also rose by 1.3 per cent.
• Housing, Water, Electricity, Gas, and Fuel: Prices increased by 1.6 per cent. Actual rent rose by 0.8 per cent, imputed rent by 0.9 per cent, maintenance and repairs by 1.5 per cent, water and related services by 0.3 per cent, and electricity, gas, and other fuels by 3.1 per cent.
• Healthcare: The sector saw a 0.5 per cent increase, with outpatient services rising by 1.2 per cent and hospital services up by 1.3 per cent.
• Transport: This sector rose by 6.2 per cent, with vehicle purchase prices increasing by 2.3 per cent, private transport spending rising by 6.9 per cent, and transport services up by 6.7 per cent.
• Telecommunications: The sector increased by 0.2 per cent, with telephone and fax equipment rising by 2.2 per cent.

Annual Changes (November 2024 compared to November 2023)

• Food and Beverages: Prices in this sector increased by 23.3 per cent, with significant rises across various categories: grains and bread (up by 29.5 per cent), meat and poultry (up by 17.9 per cent), fish and seafood (up by 21.8 per cent), dairy products, cheese, and eggs (up by 26.5 per cent), oils and fats (up by 16.1 per cent), fruits (up by 32.7 per cent), vegetables (up by 27.8 per cent), sugar and sugary foods (up by 9.0 per cent), other food products (up by 49.4 per cent), coffee, tea, and cocoa (up by 25.6 per cent), and mineral water, soft drinks, and natural juices (up by 40.5 per cent).
• Clothing and Footwear: Prices increased by 24.6 per cent, with fabrics rising by 30.8 per cent, ready-made garments up by 24.8 per cent, other clothing and accessories up by 27.2 per cent, and footwear rising by 22.9 per cent. Shoe repair services also increased by 22.7 per cent.
• Housing, Water, Electricity, Gas, and Fuel: Prices increased by 21.8 per cent, with actual rent rising by 8.9 per cent, imputed rent by 8.0 per cent, maintenance and repairs of dwellings by 17.3 per cent, water and related services by 20.9 per cent, and electricity, gas, and other fuels rising by 49.3 per cent.
• Healthcare: Prices increased by 31.3 per cent, with medical products, devices, and equipment up by 40.7 per cent, outpatient services rising by 17.8 per cent, and hospital services up by 22.4 per cent.
• Transport: The sector rose by 37.6 per cent, with vehicle purchases increasing by 26.0 per cent, private transport spending up by 29.5 per cent, and transport services rising by 44.2 per cent.
• Telecommunications: This sector increased by 12.5 per cent, with postal services rising by 60.0 per cent, telephone and fax equipment up by 25.5 per cent, and telephone services increasing by 11.4 per cent.
• Education: This sector remained stable, at 12.3 per cent, with increases in pre-primary and basic education (up by 10.2 per cent), secondary education (up by 6.5 per cent), and higher education (up by 32.5 per cent).

These figures highlight the shifting inflationary pressures in Egypt, driven by significant price variations across different sectors.

Attribution: CAPMAS

Subediting: M. S. Salama