Egypt’s annual urban inflation rate eased for the first time in nine months to reach 30.6%

CAIRO - 10 May 2023: Egypt’s annual urban inflation rate reaches 30.6 percent in April 2023 from 32.7 percent in March 2023, easing for the first time in nine months according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

In addition to that, Egypt's annual headline inflation rate dropped to 31.5 percent this April, compared to 33.9 percent from last month.

CAPMAS also stated that Egypt's annual core inflation rate is expected to ease to 39.2 percent this April from 39.5 percent in the previous month. On a monthly basis, core consumer prices increase by 1.7 percent to reach 160 points going down from a 2.7 percent increase in the previous month.

Since last month, prices of food and beverages in Egypt increased by 2.3 percent in April, grain and bread increased by 7 percent and fish prices increased by 7.3 percent, and pourtly and meat prices increased by 0.9 percent.

Prices of housing, water, electricity, natural gas, and fuel also saw a 0.6 percent increase compared to last month, and transportation prices saw a 0.9 percent increase.

Earlier this week, The Egyptian Cabinet’s Media Center published a report highlighting Egypt’s export figures and trade indicators. The report showed that Egypt’s value of exports saw a $24 billion increase in 8 years, recording $51.6 billion in 2022 up from $27.6 billion in 2014.