Cityscape in Egypt

Egypt Inflation June 2022

Egypt: Inflation declines to lowest level since March in June

Consumer prices fell 0.16% from the previous month in June, contrasting May’s 1.03% increase. June’s result marked the sharpest fall in prices since January 2021. The figure was primarily driven by dropping prices for food and non-alcoholic beverages.

Inflation halted its upward trend in June and surprised analysts on the downside, coming in at 13.1%, which was down from May’s 13.5%. While June’s result marked the weakest inflation rate since March, it still was above the upper bound of the Central Bank’s 5.0–9.0% target band for a fourth consecutive month. Still, annual average inflation rose to 8.5% in June (May: 7.8%). Lastly, core inflation rose to 14.6% in June, from the previous month’s 13.3%.

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