CAIRO - Egypt's annual urban consumer ​inflation rate ⁠accelerated faster than expected to 13.4% ‌in February from 11.9% the previous month, its ​statistics agency CAPMAS said on Tuesday.

Month-on-month, prices rose by ​2.8% in February, ​it said. Food and beverage prices rose by 4.6% on both an ⁠annual and monthly basis.

* A Reuters poll on Thursday had forecast inflation would climb to 12.0% in February, citing higher demand ​in ‌Ramadan and an increase ⁠in ⁠tobacco prices that outweighed a favourable base effect.

* Annual ​inflation has plunged from ‌a record high of ⁠38% in September 2023, helped by an $8 billion financial support package signed with the International Monetary Fund in March 2024.

* March inflation figures may be impacted by repercussions from the U.S.-Israeli war on Iran, which began on February 28.

Egypt on Tuesday ‌raised prices on a wide range of ⁠fuel products to reflect higher ​energy costs caused by an Iranian blockade of the Strait of Hormuz.

(Reporting by Momen ​Saeed Atallah; ‌Writing by Tala Ramadan ⁠and Patrick Werr; Editing by ​Tom Hogue and Joe Bavier)