Egypt Inflation August 2022

Egypt

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.

Our panelists see inflation averaging 13.1% in CY 2022, which is down 0.1 percentage points from last month’s forecast, and 9.5% in CY 2023.


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Egypt Inflation August 2022

Note: Year-on-year and month-on-month variation of urban consumer price index in %.
Source: Central Agency for Public Mobilization and Statistics (CAPMAS).


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