08 Sep 2022

CAPMAS (The Center for Public Mobilization & Statistics) released inflation figures, which showed that headline (urban) inflation rose to 14.6% in August 2022 versus 13.6% in July 2022, partly due to unfavourable base effects. One of the largest annual increases was in the food & beverage component, which went up by over 23% YoY. Alternatively, on a monthly basis, food & beverage prices were stable and relatively balanced, with vegetables prices rising and fruits, meat, and poultry all declining.

The increase on a monthly basis was 0.9% MoM compared to a 1.3% MoM rise in July 2022, showing signs of deceleration in inflation growth. Overall (nationwide) inflation registered 15.3% in August 2022 compared to 14.6% in July 2022. On a monthly basis, the increase was 0.5% MoM.

The CBE’s (Central Bank of Egypt) core inflation measure showed a rate of 16.7% in August 2022 versus 15.6% in July 2022. In a monthly trend similar to CAPMAS’s figures, on monthly basis the CBE’s inflation measure was up only 0.6% MoM in August 2022 versus 1.5% MoM in July 2022. (Sources: Reuters (English), Zawya (English), al-Ahram (English) (Arabic), Egypt Today (English), Arab News (English), al-Maal (1) (2), Mubasher, al-Borsa, Amwal al-Ghad, Hapi Journal, al-Youm al-Saabe, al-Masry al-Youm, al-Shurouk (1) (2), al-Dustour, Masrawy (1) (2), Middle East News Agency, al-Sharq Business, al-Arabiya, Sky News Arabia, RT)