CAPMAS: Egypt's Inflation Rate Rises to 33.7% by May-2023end

The Central Agency for Public Mobilization and Statistics announced an increase in the annual inflation rate for commodity prices across the entire republic during May of last year to 33.7%, compared to 15.3% during the same month in 2022, representing a rise of 18.4%.

This increase was attributed to a rise in the cost of food and beverages by 58.9%, transportation by 25.1% on an annual basis in May, education by 7.7%, healthcare by 18%, and restaurants and hotels by 48.8%.

CAPMAS also added that there was an increase in the cost of alcoholic beverages and tobacco by 23.2% on an annual basis during the past month, culture and entertainment by 27.3%, furniture, household equipment, maintenance by 38.8%.

The cost of housing, water, electricity, gas, and fuel increased by 6.4% on an annual basis during May of last year, while clothing and footwear rose by 22.2%, wired and wireless communication by around 1.3%, and other goods and services by 29.8%.