Thailand: Inflation drops to lowest level since April in August
Inflation fell to 0.4% in August, below July’s 0.8%. August’s figure represented the lowest inflation rate since April. Looking at...
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: Macrobond.
Egypt Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 9.2 | 5.1 | 5.2 | 13.9 | 33.9 |
| Inflation (CPI, ann. var. %, eop) | 7.0 | 5.4 | 5.9 | 21.3 | 33.6 |
Inflation falls to over one-year low in June
Inflation eased for a fourth consecutive month in June, waning to 27.5% in June, below May’s 28.2%. June's result represented the weakest inflation rate since January 2023. Looking at the details of the release, the slowdown in price pressures was primarily due to a moderation in transport price growth. Conversely, prices for food and non-alcoholic beverages rose at a steeper pace; this was a result of the 300% increase in the price of subsidized bread from 1 June. Accordingly, the trend pointed down, with annual average inflation coming in at 33.3% in June (May: 34.1%). Meanwhile, core inflation fell to 26.6% in June from May’s 27.1%. Finally, consumer prices increased 1.56% in June over the previous month, contrasting May's 0.68% drop. June's jump was the highest reading since February.
Our Consensus is for inflation to continue gradually decelerating in H2 and to average below H1. That said, average inflation is expected to remain above the Central Bank of Egypt’s 5.0–9.0% target band until calendar year 2027. Additionally, upside risks remain: Further reductions in subsidies may occur ahead as part of the reforms needed to continue receiving IMF funds.
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 18 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 info@focus-economics.com.
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