URGENT: Egypt’s monthly inflation slows to 0.5% in July

Egypt’s general consumer price index (CPI) reached 226.7 points in July, registering an inflation rate of 0.5 per cent compared to 1.8 per cent in June. The annual inflation rate for July recorded 25.2 per cent, down from 27.1 per cent in June.

The decrease in monthly inflation is mainly due to price drops in cereals and bread (1.4 per cent), meat and poultry (5.7 per cent), oils and fats (0.8 per cent), sugar and sugary foods (2.0 per cent), fabrics (0.4 per cent), ready-made clothes (0.3 per cent), and organised tourist trips (11.6 per cent).

However, prices increased for vegetables (19.3 per cent), fruits (3.7 per cent), dairy products, cheese, and eggs (1.8 per cent), mineral water, carbonated drinks, and natural juices (2.0 per cent), tobacco (0.9 per cent), and several other categories.

Annually, the food and beverages section saw a 28.6 per cent rise, driven by increases in cereals and bread (32.4 per cent), meat and poultry (19.0 per cent), dairy products, cheese, and eggs (35.8 per cent), vegetables (54.5 per cent), and other items.

The housing, water, electricity, gas, and fuel by 12.3 per cent, furniture, household equipment, and maintenance by 26.4 per cent, healthcare by 22.4 per cent, transportation by 17.9 per cent, and communication by 12.7 per cent.

Moreover, the culture and entertainment section saw the highest rise at 48.8 per cent, driven by significant increases in several categories.

Education also rose by 12.3 per cent, with notable increases in various educational services. Restaurants and hotels saw a 31.0 per cent rise, and miscellaneous goods and services increased by 20.0 per cent.

This data highlights the varied impacts on different sectors within Egypt’s economy, reflecting both rising costs and sector-specific price adjustments over the past year.

Attribution: CAPMAS report