Egypt: Inflation comes in at highest level since July 2017 in February
Inflation came in at 32.0% in February, up from January’s 25.9%. February’s result marked the highest inflation rate since July 2017. Looking at the details of the release, the acceleration was primarily driven by increasing prices for food and non-alcoholic beverages. In addition, price pressures for transportation also grew at a quicker pace.
Accordingly, the trend pointed up, with annual average inflation coming in at 17.4% in February (January: 15.5%). Meanwhile, core inflation soared to 40.3% in February, from January’s 31.2%.
Finally, consumer prices rose 6.52% over the previous month in February, picking up from the 4.64% rise seen in January.