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Egypt's inflation rate up 7.1% in February – CAPMAS

Egypt's inflation rate up 7.1% in February – CAPMAS
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Cairo – Mubasher: Egypt's consumer price index (CPI) stood at 161.30 points in February 2023, higher by 7.10% than January’s record, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The Arab Republic’s annual inflation rate hit 32.90% last February, compared to 10% during the same month in 2022.

The monthly growth was supported by a 29.70% leap in the prices of meat and poultry.

Meanwhile, the prices of fish and seafood as well as regular tourist trips increase by 19.50% and 18.60%, respectively.

The S&P Global PMI data recently showed that Egypt’s non-oil economy remained in a steep downturn in February, with the headline seasonally adjusted Purchasing Managers’ Index (PMI) up to 46.9.