CAIRO - 10 March 2024: Annual inflation rate reached 36.0 percent in February 2024, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS). This marked a significant increase from January's rate of 31.2 percent. The consumer price index in Egypt surged to 219.4 points during the same period.
CAPMAS further reported that the monthly inflation rate for February 2024 soared to 11.0 percent, compared to 1.7 percent in January 2024.
CAPMAS attributed the sharp increase to rising prices in key sectors, including meat and poultry (+25.0 percent), cereals and bread (+14.2 percent), fish and seafood (+11.5 percent), dairy products such as cheese and eggs (+12.8 percent), and oils and fats (+14.1 percent).
Egypt's urban consumer price inflation (CPI) also witnessed a notable uptick, reaching 35.7 percent in February 2024, up from January's 29.8 percent. This came after a slight decline from December 2023's rate of 33.7 percent.
Moreover, food and beverage prices experienced a staggering year-on-year increase of 50.9 percent last month.
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