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.
A peddler sells roasted corn cobs by the medieval Sultan al-Ghuri Complex (built in 1505) in Azhar district, Cairo, Egypt, Jan. 16, 2023. - Khaled Desouki/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

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.

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