Egypt’s inflation increases into 2023
Central bank interventions have so far been unable to stem the tide of inflation, and Egypt is also contending with the devaluation of the Egyptian pound.
Inflation in Egypt continued to rise at the end of 2022, the government’s statistics agency announced Tuesday.
Egypt’s annual headline inflation rose to 21.9% in December, up from 19.2% in November 2022 and 6.5% in December 2021. This was due to prices rising across numerous sectors, including food, water, gas, electricity, housing, health insurance and more, according to the Central Agency for Public Mobilization and Statistics.
