Egypt’s annual headline inflation records 27.1% in June: CAPMAS

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Arab Finance: Egypt's annual headline inflation eased to 27.1% in June, compared to 27.4% in May, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on July 10th.

The inflation rate was driven by the increase of 30.8% in the food and beverage segment as prices of red meat and poultry rose by 27.2% in June.

Moreover, the prices of the alcoholic beverage and tobacco segment saw a 55.2% year-on-year (YoY) surge last month, and prices of the culture and entertainment segment increased by 56.6% YoY.

In addition, the prices of the restaurants and hotels segment were 31.7% higher than in June 2023, while the furniture and home appliances segment registered a 27% YoY rise in prices.

However, the monthly inflation rate recorded 1.8% in June, with the consumer price index (CPI) recording 225.6 points.

It is worth mentioning that Egypt's annual headline inflation rate climbed to 36.8% in June 2023.