Egypt: Inflation increases in December
Consumer prices decreased 0.08% month-on-month in December, swinging from November’s 0.15% increase, marking the first drop in prices since January 2021. December’s fall was due to prices for food declining at a quicker rate and prices for health services increasing at a softer pace.
Inflation rose to 5.9% in December, up from November’s 5.6%. Meanwhile, the trend was unchanged for the third month running, with annual average inflation coming in at November’s 5.2% in December. Finally, core inflation inched up to 6.0% in December (November: +5.8%), hitting its highest value since at least September 2019.