Egypt's annual headline inflation rate rose to 16.3% in October 2022, compared to 7.3% in the same month of 2021, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced in a press release on November 10th.

The CAPMAS attributed the accelerated annual inflation to the year-on-year (YoY) surge in prices of the food and beverage segment by 23.9%, the alcoholic beverage and tobacco segment by 13.6%, the ready-made clothing and footwear segment by 14.6%, and the education segment by 7.7%.

Moreover, the prices of the transport segment rose by 15.9% last October, while the prices of housing, water, electricity, gas, and fuel segment increased by 6.7%, data showed.

The prices of the healthcare segment also increased in October by 9.8% YoY, while the restaurants and hotels segment and the commodities and various services segment went up 28.3% and 14.3%, respectively.

Meanwhile, the prices of the communication segment inched up by 0.9% YoY last month.

Furthermore, the monthly consumer price index (CPI) recorded 137.2 points in October, marking a 2.5% growth rate as compared to September, the CAPMAS noted.

It is worth noting that Egypt's annual headline inflation rate recorded to 15.3% in September 2022, compared to 8% in September 2021.

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