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Egypt Inflation Rate

Last Release
Mar 31, 2024
Actual
33.3
Units In
%
Previous
35.7
Frequency
Monthly
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
38
Sep 2023
-4.2
Aug 1962
9.84 %1958-2024Central Bank of Egypt
In Egypt, the headline Consumer Price Index (CPI) measures the change in the cost of a fixed basket of goods and services that are purchased by a representative sample of households from urban areas, which include Cairo, Alexandria, urban Lower Egypt, urban Upper Egypt, Canal cities and Frontier governorates. The most important categories in the headline CPI are Food and Beverages (40 percent of total weight); Housing, Water, Electricity, Gas and other Fuels (18.4 percent); Medical Care (6.3 percent) and Transportation (5.7 percent). Clothing and Footwear account for 5.4 percent of total index and Education for 4.6 percent. Hotels, Cafes and Restaurants represent 4.4 percent of total weight and Furnishings, Household Equipment and Routine Maintenance of the Dwelling for 3.8 percent. Miscellaneous Goods and Services account for 3.7 percent, Communications 3.1 percent, Recreation and Culture 2.4 percent and Tobacco and Related Products 2.2 percent.

Latest Updates

The annual urban inflation rate in Egypt slowed to 33.3% in March 2024, from a four-month high of 35.7% in the previous month and missing market forecasts of 36.3%. Downward pressure mainly came from food (45% vs 50.9% in February), transport (16.2% vs 17.6%) add housing (9.7% vs 10%). Meanwhile, Cairo metro ticket prices saw an increase of up to 20%, while internet service fees surged by as much as 33%, and electricity tariffs rose by up to 26%. However, to mitigate the impact of these price hikes and address the pressing cost of living crisis, the government also introduced a substantial 50% raise in the minimum wage, setting it at 6,000 Egyptian pounds, effective from March. On a monthly basis, consumer prices rose 1% in March, sharply decelerating from 11.4% in the prior month.

Egypt Inflation Rate History

Last 12 readings

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