CAIRO – 10 October 2024: The Central Bank of Egypt (CBE) reported a 1 percent monthly decline in the core consumer price index for September 2024, compared to 1.1 percent in September 2023 and up from 0.9% in August 2024.
Annually, core inflation dropped slightly to 25.0 percent in September 2024, compared to 25.1% in August 2024.
Meanwhile, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the urban consumer price index increased by 2.1 percent in September 2024, matching August’s rate, but slightly higher than the 2.0 percent recorded in September 2023.
On an annual basis, urban inflation rose to 26.4 percent in September 2024, up from 26.2 percent in August.
In October, CAPMAS announced that Egypt’s general consumer price index reached 236.5 points in September 2024, reflecting a 2.3 percent monthly rise from August.
Annual headline inflation stood at 26.0 percent in September 2024, significantly lower than the 40.3 percent recorded in September 2023.
Earlier, in August, the CBE noted that annual core inflation had slowed to 24.4 percent in July from June’s 26.6 percent, marking the fifth consecutive month of decline and the lowest level since December 2022.
Monthly core inflation recorded a drop of 0.5 percent in July 2024, compared to a 1.3 percent increase in July of the previous year.
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