Egypt's annual inflation decelerates to 34% in December

Posted on January 15, 2024   |  

Egypt's annual urban consumer price inflation rate slightly eased to 33.7% in December, compared to 34.6% in November.

The reported figure slightly surpassed the median forecast of 33.4% provided by 14 analysts.

Month-on-month, prices increased by 1.4% in December, up from 1.3% in November. 

Notably, food prices surged by 2.1% in December, a significant rise from the 0.2% recorded in November, leading to a year-on-year increase of 60.5%.

The inflation rate in Egypt has shown signs of relief, gradually decreasing from a historic high of 38.0% in September.