Egypt: Inflation accelerates to a 10-month high in October
In October, urban consumer prices rose 2.59% from the previous month, more than September’s 2.53% increase. October’s result was largely due to higher prices for food and beverages, coupled with costlier education. Prices for transportation, meanwhile, declined.
Urban inflation accelerated to a 10-month high of 17.7% in October, up from 16.0% in September. Inflation was underpinned by higher prices for food and beverages; housing, water, electricity, gas and other fuels; and transportation. Urban core inflation picked up to 8.9% in October, higher than the 8.6% recorded for September. Meanwhile, annual average inflation slowed to 15.9% in October from 16.8% in September.