Egypt’s general consumer price index reached 239.7 points in December 2024, recording an annual headline inflation rate of 23.4%, compared to 25.0% in November 2024, according to the latest data released by the Central Agency for Public Mobilization ( CAPMAS).

The monthly core inflation rate recorded 0.9% in December 2024, compared to 1.3% in December 2023 and 0.4% in November 2024, according to data released by Central Bank of Egypt (CBE).

On an annual basis, the core inflation rate stood at 23.2% in December 2024, slightly down from 23.7% in November 2024.

During its latest Monetary Policy Committee meeting, the CBE announced an extension of its inflation targets, aiming for an average of 7% ±2 percentage points by Q4 2026 and 5% ±2 percentage points by Q4 2028.

 This adjustment is intended to provide greater flexibility in managing price shocks without resorting to additional strict monetary tightening. Previously, the bank had set its inflation targets at 7% ±2 percentage points by Q4 2024 and 5% ±2 percentage points by Q4 2026.