Egypt's surging inflation rate follows a series of currency devaluations starting in March 2022. The increase was driven by a rise in food prices, the impact of currency devaluation, and the effect of a raw material shortage.

Egypt's annual urban consumer inflation rate in March climbed to 32.7% year-on-year, just shy of an all-time record, from 31.9% in February, data from the country's statistics agency CAPMAS showed on Monday.

Egypt's highest inflation rate ever was 32.952%, reached in July 2017, eight months after Egypt devalued its currency.

The core inflation rate fell back to 39.5% after jumping to a record 40.26% in February, central bank data showed on Monday.

The median of the analysts' forecasts had expected it to climb to 42.25%.   I think it is very likely that Egypt's inflation will hit 40% very soon.

https://www.reuters.com/world/africa/egypts-headline-inflation-rate-increased-327-march-2023-04-10/ 


Files
Files
Tip: Mention someone by typing @username