URGENT: Egypt’s monthly inflation slows in Sept.

Egypt’s consumer price index (CPI) for September 2024 for the whole state reached 236.5 points, reflecting a monthly inflation rate of 2.3 per cent compared to August 2024. Annual inflation for September 2024 eased to 26.0 per cent compared to 40.3 per cent recorded in the same period last year.

Rising costs in essential goods and services drove the increase. Food prices saw notable increases, with vegetables jumping by 12.4 per cent, dairy products, cheese, and eggs by 2.8 per cent, and fish and seafood by 1.7 per cent. Grains and bread, as well as meat and poultry, each rose by 0.7 per cent.

The housing, water, electricity, and fuel saw an increase of 5.1 per cent, electricity, gas, and other household fuel prices surged by 14.9 per cent.

Additional housing costs, such as real lease, rose by 0.9 per cent, and house appliances costs increased by 1.5 per cent.

Sectoral Trends Annually

While there has been a decrease in the annual inflation rate, the past year has seen steep increases across several sectors. Food and beverage prices have surged by 27.4 per cent, with grains and bread up 34.7 per cent, dairy products and eggs by 31.9 per cent.

Transport costs also saw a 30.2 per cent year on year (YoY) increase.

Attribution: CAPMAS

Subediting: M. S. Salama