The annual inflation rate for Egypt in August 2024 was recorded at 25.6 percent, up from 25.2 percent in the previous month. According to the latest figures released by the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s general consumer price index rose to 231.1 points in August 2024, reflecting a monthly inflation rate of 1.9 percent.
In August 2023, Egypt’s annual inflation rate recorded 39.7 percent.
This increase was largely driven by a significant 14.3 percent surge in vegetable prices, alongside a 14.9 percent rise in transportation services. Other notable increases included a 6.0 percent uptick in postal services, a 2.8 percent rise in household appliances, a 2.1 percent increase in dairy, cheese, and eggs, and a 2.8 percent rise in hospital services. Additionally, the fish and seafood category saw a 1.4 percent boost, while fruit prices increased by 0.9 percent.
Categories with price declines
Moreover, several categories experienced price declines: tobacco prices fell by 0.1 percent, cereals and bread decreased by 1.3 percent, meat and poultry dropped by 1.5 percent, oils and fats declined by 0.9 percent, and sugar saw a slight decrease of 0.1 percent.
Monthly comparisons
When comparing monthly changes from July to August 2024, the Food and Beverages sector noted a 1.8 percent increase, clothing and footwear saw a rise of 1.1 percent, and the housing, water, electricity, gas, and fuel category experienced a 0.7 percent uptick.
Furthermore, the Furniture, Fixtures, Home Equipment, and Maintenance segment recorded a 1.7 percent increase, while health care services experienced a notable 3.4 percent rise.
Annual changes in specific sectors
In addition, analyzing annual changes between August 2024 and August 2023, the food and beverage sector surged by 28.1 percent, clothing and footwear increased by 25.4 percent, and health care costs rose by 25.6 percent. Additionally, the housing, water, electricity, gas, and fuel category climbed by 12.5 percent, and the Furniture, Fixtures, Home Equipment, and Maintenance sector saw a significant 26.0 percent increase.
For more economy news, click here.
