Egypt’s annual inflation accelerates to 19.3% in November: CAPMAS

Egypt's annual headline inflation rate rose to 19.3% in November 2022, compared to 6.2% in the same month of 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release.

Furthermore, the monthly consumer price index (CPI) recorded 13.07 points in November, marking a 2.5% growth rate as compared to Octoberr, the CAPMAS noted.

The CAPMAS attributed the accelerated annual inflation to the year-on-year (YoY) surge in prices of the cereals and bread segment by 4.8%, the meat and poultry segment by 6.8%, the fish and seafood segment by 3.7%, and the dairy, cheese and eggs by 5.5%.

The prices of the healthcare segment also increased in November by 1.8% YoY, while the restaurants and hotels segment went up 0.4%.

Annual urban inflation jumps to five-year high of 18.7% in November

Egypt's annual urban consumer inflation rate surged to a five-year high of 18.7% in November, CAPMAS data added.

The inflation figure, up from 16.2% in October, was the highest since December 2017, when it hit 21.9%. The price rises followed acurrency devaluation in October and continued restrictions on imports.