Egypt’s annual urban inflation rate records to 32.7 percent in May: CAPMAS

CAIRO – 11 June 2023: The Central Agency for Public Mobilization and Statistics (CAPMAS) reported that Egypt’s annual urban consumer inflation rate increases to record 32.7 percent this may. This is an increase from 30.6 percent which was recorded last month.

CAPMAS also reported that the annual headline inflation rate increased to 33.7 percent from 15.3 percent in May last year and compared to 38.6 percent in April 2023.

Egypt’s monthly headline urban CPI inflation recorded 2.7 percent in May 2023 compared to 1.1 percent in the same month of the previous year and 1.7 percent in April 2023.

The reason behind this increase in the inflation rate is a hike in the prices of the cereals and bread group by 65.2 percent, the prices of the meat and pourtly group by 87.9 percent, the prices of the fish and seafood group by 82.1 percent, the prices of the dairy, cheese, and eggs group by 67.7 percent, the prices of the oils group and fats by 32.6 percent, this is an annual comparison.