Cityscape in Egypt

Egypt Inflation February 2023

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.

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