09 Sep 2021

In its most recent report, CAPMAS (The Central Agency for Public Mobilization & Statistics) reported that Egypt’s annual urban inflation registered 5.7% in August 2021, up slightly from 5.4% in July 2021. On a monthly basis, urban inflation increased by only 0.1% MoM in August versus 0.9% in July. Annual nationwide inflation was 6.4% in August, again up slightly from 6.1% in July. On a monthly basis, nationwide inflation declined by 0.1% MoM in August versus an increase of 0.9% in July. The main driver of inflation in August was increases in some food products, as well as an unfavourable base effect. The current level of inflation is close to the lower boundary of the CBE’s (Central Bank of Egypt) target inflation range of 5-9%.

(Source: Reuters (English), Mubasher (English) (Arabic), Amwal al-Ghad, Hapi Journal, al-Shurouk, al-Dustour, CNBC Arabia, al-Arabiya)