Inflation in Egypt at 32.9% in latest spike
The Egyptian government’s inflation statistics in February could prompt an interest rate increase when the central bank next meets.
![A pedlar sells roasted corn cobs by the medieval Sultan al-Ghuri Complex (built in 1505) in Azhar district, Cairo, Egypt, Jan. 16, 2023.](/sites/default/files/styles/article_hero_medium/public/2023-03/GettyImages-1246292682.jpg?h=a5ae579a&itok=87RufDUZ)
Inflation in Egypt rose considerably in February, the Egyptian government said on Thursday.
The Egyptian Central Agency for Public Mobilization and Statistics said that annual headline inflation reached 32.9% in February, up from 25.8% in January. The year-on-year increase was even higher. Inflation was just 10% in February last year, according to a press release.