Egypt: Inflation comes in at highest level since November 2020 in August
Consumer prices increased 0.07% in August over the previous month, a smaller increase than July’s 0.87% rise. August’s result marked the weakest reading since January. Looking at the details of the release, the result was driven by moderating price pressures for food and non-alcoholic beverages while price pressures for recreation and culture eased in August.
Inflation rose to 5.7% in August, slightly above July’s 5.4%. August’s figure marked the highest inflation rate since November 2020. Consequently, the trend pointed up, with annual average inflation increasing to 4.8% in August (July: 4.6%). Lastly, core inflation fell to 4.5% in August, from the previous month’s 4.6%.