Egypt’s annual inflation rate decreases to 24%

Posted on February 10, 2025   |  

Egypt's annual urban inflation rate fell slightly to 24% in January from 24.1% in December, staying above the 23% forecast.

Compared to last year, food prices rose by 20.2%, transport costs by 33.6%, and entertainment by 48%.

Inflation spiked after the Russia-Ukraine war in 2022, leading foreign investors to pull out billions from Egypt's treasury markets.

Inflation hit a record 38% in September 2023 but dropped to 26.5% by October 2024.

In January, inflation rose 1.6% from the previous month after staying flat in December.

Food prices increased by 2.1% in January, and healthcare costs went up by 4.6%.