Egypt's general consumer price index (CPI) reached 221.6 points in March 2024 and the monthly inflation rate reached 1% in March 2024, compared to 11% in February 2024
Egypt’s annual urban consumer price inflation rate dropped to 33.1% in March, compared to 36% last February, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egypt's general consumer price index (CPI) reached 221.6 points in March 2024 and the monthly inflation rate reached 1% in March 2024, compared to 11% in February 2024.
CAPMAS attributed this decrease to the decrease in the prices of the following groups: cereals and bread -0.3%, vegetables -3.5%, and personal effects -4.1%.
On the other hand, meat and poultry prices increased by 2.3%, fish and seafood by 0.7%, and dairy products by 0.7%. Additionally, there was an increase in the prices of cheese and eggs 1.6%, fruits 0.8%, sugar and sugary foods 1.1%, coffee, and tea 1.3%, ready-made clothing 1.1%, shoes 1.9%, actual housing rent 1.9%, housing maintenance and repair 0.8%, electricity, gas, and other fuel materials 1.2%, furniture, carpets, and other floor coverings 1.1%, household appliances 1.6%, medical products, appliances, and equipment 2.6%, outpatient services 1.4%, hospital services 1.5%, vehicle purchases 2.4%, transportation services 3.6%, postal services 5.7%, organized tourist trips 6.2%, ready meals 3.4%, hotel services 2.9%, and personal care 1.5%.
According to surveyed analysts, annual inflation was anticipated to reach an average of 36.3%. This projected increase was attributed to several factors, including the adjustment of prices following a currency devaluation, an interest rate hike in early March, and a subsequent rise in fuel prices two weeks later.
