Egypt’s annual core inflation surges to 31.2% in January – c.bank

Egypt’s year-on-year core inflation rate hiked to 31.2 percent in January 2023, compared to 24.4 percent in December 2022, the Central Bank of Egypt (CBE) revealed on Thursday.

The monthly rate of core inflation recorded 6.3 percent at the end of January 2023, compared to 2.6 percent at the end of December 2022, and 0.8 percent in the same month of the previous year.

It is worth noting that the Central Agency for Public Mobilization and Statistics (CAPMAS) announced an increase in the annual inflation rate for commodity prices to reach 26.5 percent in January 2023, compared to 21.3 percent in December 2022.