Egypt's economy struggles as inflation peaks at 38.2% in July

Posted on August 14, 2023   |  

Egypt records all-time high annual inflation in July amidst persistent price hikes

Consumer prices in Egypt skyrocketed to 38.2% year over year, setting new records

Soaring food and beverage expenses drive inflation, surging by 68.2% in 12 months

The fallout from the Russia-Ukraine grain deal amplifies the food price surge in Egypt

Egyptian pound depreciation drove inflation, leading to over 50% currency devaluation