Egypt: Inflation hits over two-year high in January
Consumer prices increased 0.85% month-on-month in January, swinging from December’s 0.08% fall, and marking the strongest increase in prices in three months. January’s upturn was due to higher prices for food and beverages, as well as for housing and utilities.
Inflation climbed to 7.3% in January, up from December’s 5.9%, marking the highest inflation rate since August 2019. Meanwhile, the trend improved, with annual average inflation coming in at 5.5% in January (December: 5.2%). Lastly, core inflation increased to 6.3% in January (December: 6.0%), hitting its highest value since at least September 2019.