CAIRO - 10 April 2023: Egypt’s annual urban inflation rate rose to 32.7 percent in March, up from 31.9 percent in February, approaching its highest level ever recorded in July 2017; when it reached 32.95 percent.
The Central Agency for Public Mobilization and Statistics (CAPMAS) announced Monday that the annual inflation rate surged in March 2023 to 33.9 percent, compared to 32.9 percent in February 2023, and 12.1 percent in March 2022.
Egypt is witnessing an inflationary wave that has been accelerating almost every month since the beginning of 2022, as a result of the high costs of importing energy and food, due to the Russian-Ukrainian crisis, and the Corona epidemic crisis.
On a monthly basis, inflation recorded 166.5 points in March 2023, recording a 3.2 percent increase compared to March 2023, according to the state-statistic body’s data.
CAPMAS attributed the increase in inflation to the rise in the prices of the cereals and bread group by 6.5 percent, meat and pourtly group by 5.0 percent, fish and seafood group by 4.9 percent, milk, cheese and eggs group by 2.5 percent, fruit group by 6.2 percent, vegetables group by 14.0 percent, coffee, tea and cocoa group by 4.4 percent, Mineral and carbonated water and natural juices group by 3.2 percent, smoke group by 0.1 percent.
In addition to the increase in the prices of the textile group by 5.9 percent, the group of cleaning, repairing and renting clothes by 2.7 percent, the group of shoe repair by 3.6 percent, the group of actual rent for housing by 0.8 percent, the group of electricity, gas and other fuel materials by 0.4 percent, the group of home appliances by 4.5 percent
Furthermore, the prices of the Hospital services group by 3.7 percent, vehicle purchase group by 4.1 percent, spending on private transportation group by 2.1 percent, transportation services group by 2.4 percent, organized tourist trips by 1.2 percent, ready meals group by 4.6 percent, hotel services group by 1.5 percent, personal care group by 3.5 percent.