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Egypt’s annual headline inflation edges lower to 27.1% in June

Egypt’s annual headline inflation edges lower to 27.1% in June
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Cairo – Mubasher: Egypt’s annual headline inflation rate inched lower to 27.10% in June 2024 from 27.40% in May.

The inflation in June was primarily driven by a 30.80% year-on-year (YoY) surge in the prices of food and beverage, and a 55.20% YoY increase in the prices of alcoholic beverages and cigarettes, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Moreover, the prices of clothes and footwear soared by 25.90% YoY in June , while prices of housing, water, electricity, natural gas and fuel increased by 12.40% YoY.

On a monthly basis, the inflation rate rose by 1.80% in June, compared to a decline of 0.80% in May.

In May, Egypt’s annual headline inflation rate went down from 31.80% in April.