Egypt’s annual inflation declines to 31.8% in April – CAPMAS

Egypt’s annual headline inflation recorded 223.6 points, declining to 31.8 per cent in April down from 33.1 in March, according to the latest Central Agency for Public Mobilisation and Statistics (CAPMAS) report released on Thursday.

The monthly inflation rate was recorded at 0.9 per cent in April compared to 1.0 per cent in the previous month.

According to the report, this slowdown can be attributed to a decrease in the prices of grains and bread by -3.7 per cent, meats and poultry by -1.8 per cent, oils and fats by -2.5 per cent, and other food products by -5.7 per cent.

Meanwhile, there were slight increases in the prices of dairy and cheese by 0.6 per cent, fruits by 3.5 per cent, vegetables by 0.3 per cent, sugar and sugary foods by 0.9 per cent, and tea, coffee, and cocoa by 0.6 per cent. However, tobacco prices recorded a significant increase of 8.6 per cent, while ready-made clothes increased by 6.7 per cent, and shoes by 2.9 per cent.