Egypt’s inflation declines to 35.2% in Dec

Egypt’s annual urban consumer price decreased to 35.2 per cent in December on 2023, down from 36.4 per cent in November, the state’s official statistics agency CAPMAS reported on Wednesday.

The data also revealed that there was a drop in the prices of meat and poultry by 1.7 per cent, fruit by 4.0 per cent, vegetables by 5.3 per cent, and hotel services by 1.4 per cent.

Moreover, the cost of food and beverages, the largest single component of the inflation basket, decreased to 60.1 per cent, according to the agency’s data.