Egypt: Inflation comes in at highest level since November 2018 in August
September 9, 2022
Inflation came in at 14.6% in August, up from July’s 13.6%, moving further above the upper bound of the Central Bank’s 5.0–9.0% target band—where it has been for the past six months. August's result was the highest inflation rate since November 2018. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a faster rate in August. Prices for transportation increased. Accordingly, the trend pointed up, with annual average inflation coming in at 9.9% in August (July: 9.2%). Meanwhile, core inflation rose to 16.7% in August, from the previous month's 15.6%.
Lastly, consumer prices rose 0.85% in August over the previous month, below July's 1.33% increase.