Egypt’s inflation rises to four-year high in September

Registering 15.3%, up from 14.6% in August
Egypt’s inflation rises to four-year high in September
A Cairo street (Image credit: Reuters)

Annual urban consumer inflation in Egypt rose to 15 percent in September, its highest in four years, data from the country’s Central Agency for Public Mobilization and Statistics (CAPMAS) revealed on Monday.

Inflation increased to 15 percent year-on-year from 14.6 percent year-on-year in August, according to the findings. This was the highest since November 2018, when it hit 15.7 percent, the data showed. 

Egypt’s central bank, whose Monetary Policy Committee meets next on November 3, targets a rate between 5 percent and 9 percent, but in June said it expected inflation to exceed the target in the fourth quarter before subsequently declining.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.