10 Feb 2022

CAPMAS (The Central Agency for Public Mobilization & Statistics) released inflation figures for January 2022, showing annual headline inflation reaching 7.3%, compared to 5.9% in December 2021. On a monthly basis, inflation went up by 0.9% from a month earlier, versus -0.1% in December 2021. The notable increase in inflation was mainly driven by increases in the food and beverages component of the CPI, which represents about 20% of the index. Other contributors to the annual rise were increases in transportation, housing, water, electricity, and gas prices. The CBE (Central Bank of Egypt) has an inflation target of 7% ±2% for 4Q22.

(Source: Reuters (English), al-Ahram (English), Daily News Egypt (English), Egypt Today (English), Arab News (English), al-Sharq al-Awsat (English), al-Arabiya (English) (Arabic), Amwal al-Ghad, Akhbar al-Youm, Masrawy, al-Sharq Business)