Egypt: Inflation comes in at seven-month high in July
Consumer prices increased 0.87% in July over the previous month, accelerating from the 0.18% increase logged in June. The figure was largely driven by rising prices for food and non-alcoholic beverages, as well as for housing and utilities.
Inflation increased to 5.5% in July, following June’s 4.9%. July’s reading was the highest inflation rate since December 2020. Consequently, the trend pointed up slightly, with annual average inflation coming in at 4.6% in July (June: 4.5%). Lastly, core inflation rose to 4.6% in July, from June’s 3.8%.