Cityscape in Egypt

Egypt Inflation

Egypt Inflation

Inflation in Egypt

Consumer price inflation in Egypt averaged 12.1% in the ten years to 2022, above the Middle East & North Africa regional average of 5.4%. The 2022 average figure was 13.9%. For more inflation information, visit our dedicated page.

Egypt Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Egypt from 2014 to 2023.
Source: CAPMAS Egypt.

Egypt Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 14.4 9.2 5.1 5.2 13.9
Inflation (CPI, ann. var. %, eop) 12.0 7.0 5.4 5.9 21.3

Inflation drops to lowest level since May in December

Inflation came in at 33.6% in December, which was down from November’s 34.6%. December's result marked the lowest inflation rate since May. Looking at the details of the release, the decrease reflected prices for food and non-alcoholic beverages growing at a slower rate year on year—though they still grew by over 60%. Meanwhile, prices for transportation rose at a marginally softer pace compared to the previous month's reading. Still, the trend pointed up, with annual average inflation coming in at 33.9% in December (November: 32.9%). Meanwhile, core inflation fell to 34.2% in December, from the previous month's 35.9%. Lastly, consumer prices rose 1.39% over the previous month in December, picking up from the 1.30% increase seen in November.

Our panelists expect the disinflation process to gradually continue this calendar year (CY): A high base of comparison, slower activity, the delayed impact of elevated interest rates and a higher unemployment rate should help cool price pressures. Consequently, inflation will average below CY 2023 levels. That said, overall inflation is expected to be more than double the upper bound of the Central Bank of Egypt’s 5.0–9.0% target band in 2024; our panelists only see it returning to target in CY 2026. Risks to the inflationary outlook are skewed to the upside and include a weaker Egyptian pound—especially in the parallel market—and higher import commodity prices amid the Red Sea crisis driving up global shipping costs.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Egyptian inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Egyptian inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Egyptian inflation projections.

Want to get access to the full dataset of Egyptian inflation forecasts? Send an email to

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