Egypt’s annual headline inflation recorded 14.6% in July 2022, compared to 6.1% in the same month of 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release today.
The monthly consumer price index (CPI) recorded 131 points in July, marking a 0.9% increase as compared to June, the CAPMAS noted.
The CAPMAS attributed the increase in monthly inflation to the 1% and 5.2% month-on-month (MoM) hikes in the prices of grain and bread and cheese and eggs, respectively, in July.
Moreover, the increased inflation was ascribed to 7.5%, 3.3%, 9%, and 6.4% MoM surges in the segments of fruits, tobacco, private transportation, and transportation services, respectively.
On the other hand, the prices of vegetables dropped 10.8% MoM.
The alcoholic drinks and tobacco segment inched up 3.3% MoM in July, while the ready-made clothing and footwear segment grew slightly by 0.6%.
Moreover, the prices of the transport segment rose by 6.6% last July as compared to June, while the prices of the housing, water, electricity, gas, and fuel segment edged up 0.2%, data showed.
The prices of the healthcare segment also increased by 0.8% in July on a monthly basis, while the restaurants and hotels segment and the commodities and various services segment went up 1% and 0.7%, respectively.
Year-on-year (YoY), the prices of the communication segment inched up by 0.7% last month, while the prices of the education segment remained unchanged at 13.9%.
It is worth noting that Egypt’s annual headline inflation rate reached 14.7% in June 2022, compared to 5.3% in the same month of 2021.
Source: Arab Finance
