Egypt Inflation Rate

Last Release

Sep 30, 2024

Actual

26.4

Units In

26.2

Frequency

Monthly

Next Release

Nov 11, 2024

Time to Release

1 Months 0 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
38 Sep 2023	-4.2 Aug 1962	9.97 %	1958-2024	Central Bank of Egypt

In Egypt, the headline Consumer Price Index (CPI) measures the change in the cost of a fixed basket of goods and services that are purchased by a representative sample of households from urban areas, which include Cairo, Alexandria, urban Lower Egypt, urban Upper Egypt, Canal cities and Frontier governorates. The most important categories in the headline CPI are Food and Beverages (40 percent of total weight); Housing, Water, Electricity, Gas and other Fuels (18.4 percent); Medical Care (6.3 percent) and Transportation (5.7 percent). Clothing and Footwear account for 5.4 percent of total index and Education for 4.6 percent. Hotels, Cafes and Restaurants represent 4.4 percent of total weight and Furnishings, Household Equipment and Routine Maintenance of the Dwelling for 3.8 percent. Miscellaneous Goods and Services account for 3.7 percent, Communications 3.1 percent, Recreation and Culture 2.4 percent and Tobacco and Related Products 2.2 percent.

Latest Updates

The annual urban inflation rate in Egypt edged up to 26.4% in September 2024 from 26.2% in the previous month, surpassing market expectations of 25.9%. This marked the highest inflation rate since June and remaining well above the central bank's target range of 5-9%, delaying the anticipated timing of the country's first interest rate cut since 2020. Recent inflation was partly driven by sharp fuel hikes of 10-15% in late July, followed by a 25-33% surge in metro ticket prices at the start of August, and a spike in electricity tariffs of 21-31% over August and September. Meanwhile, prices moderated for food and non-alcoholic beverages (29% vs 27.7% in August), alcoholic beverages, tobacco and narcotics (37.7% vs 39.9%), clothing and footwear (25.6% vs 26.8%), restaurants and hotels (46.5% vs 35.9%), and miscellaneous goods and services (21.5% vs 21.7%). On a monthly basis, consumer prices stood at 2.1% in September 2024, unchanged from the previous month.