10 Aug 2022

CAPMAS (The Center for Public Mobilization & Statistics) released inflation data for July 2022. The figures show that headline (urban) inflation climbed to 13.6% versus 13.2% in June 2022. Driving the increase was a significant increase in the transportation component as well as some food items, although vegetable prices declined considerably. The rise in transportation costs comes in light of the national fuel pricing committee’s recent decision to raise gasoline prices by 2.3% this quarter. Diesel prices were also raised by the committee. On a monthly basis, inflation went up by 1.3% MoM in July 2022.

Overall (nationwide) inflation registered 14.6% in July 2022, down marginally from 14.7% in June 2022. Monthly, the increase was 0.9% MoM. As for the CBE’s (Central Bank of Egypt) measurement of core inflation, that came in at 15.6% in July 2022, up from 14.6% in June 2022. On a monthly basis, the rise was 1.5% MoM. (Sources: Reuters (English), Zawya (English) (Arabic), Daily News Egypt (English), Egypt Today (English), al-Sharq al-Awsat (English) (Arabic), al-Maal, Amwal al-Ghad [1] [2], al-Borsa, Hapi Journal, Economy Plus, al-Youm al-Saabe, al-Masry al-Youm, al-Shurouk, Akhbar al-Youm, Masrawy, al-Sharq Business, CNBC Arabia [1] [2], al-Arabiya, Sky News Arabia [1] [2], RT