Egypt's January inflation slowed beyond predictions

Posted on February 12, 2024   |  

In January, Egypt's yearly urban consumer price inflation fell to 29.8% from 33.7% in December.

Prices went up by 1.6% in January compared to a 1.4% increase in December.

Food prices rose by 1.4% in January, down from a 2.1% increase in December.

Over the twelve months leading to January, food prices increased by 47.5%, down from 60.5% in the previous year.

Analysts had expected annual inflation to slow to 32.5%.

Egypt's inflation has been on a downward trend from a high of 38.0% in September. 

Additionally, core inflation, which excludes fuel and some unstable food items, dropped to 29.0% in January from 34.2% in December.