Egypt's annual basic inflation rate eases to 35.9% in November

Posted on December 18, 2023

Egypt's annual basic inflation rate decreased to 35.9% in November from the previous 38.1% in October.

Consumer prices in November 2023 showed a monthly increase of 1.0%, contrasting with the 2.7% from the same month last year and a monthly average of 1.8% in October 2023.

The annual general inflation rate in Egyptian cities dropped to 34.6% in November, down from 35.8% in October.

On December 21, the Egyptian Central Bank's last meeting of the year will decide on interest rates for deposits and lending.

Throughout the year, the central bank has raised interest rates by 300 basis points, reaching 19.25% for deposits and 20.25% for lending.