Egypt’s annual core inflation rate accelerates by 31.2% at Jan-2023end: CBE

The Central Bank of Egypt revealed, in a statement today, February 9, 2023, that the core annual inflation rate recorded 31.2% in January 2023, compared to 24.4% at the end of December 2022.

The bank added, on its official website, that the consumer price index recorded a monthly rate of 6.3% in January 2023, compared to 2.6% last December, and 0.8% in January 2022.

In addition, the Central Agency for Public Mobilization and Statistics has from its part announced that Egypt’s annual inflation rate stood at 25.8% for January 2023 jumping from 21.3% in December 2022.

However, CAPMAS indicated that the consumer price index increased by 4.7% during January, compared to 0.9% in same period a year earlier and a monthly rate of 2.1% in December 2022.