Egypt’s headline inflation hits all-time high of 38.2% in July

AL-MONITOR Staff

Egypt food market — An Egyptian woman shops at a fruit market in Cairo, on March 17, 2022. Soaring bread prices sparked by Russia's invasion of Ukraine have bitten into the purchasing power of consumers in Egypt, a leading importer of wheat from the former Soviet states. — Khaled Desouki/AFP/Getty

Sharp food price rises caused Egypt’s headline inflation to spike to 38.2% for the month of July, a record high amid a national economic crisis, data from the country’s Central Agency for Public Mobilization and Statistics (CAPMAS) showed Thursday.

Headline inflation includes commodities, services, fuel, food and goods, while core inflation does not include food and fuel.

July’s headline inflation numbers broke the all-time high of 36.8% in June. July 2022’s inflation was 14.6%.

Month-on-month, prices rose by 2% in July, the same rise as seen in June, the CAPMAS data showed.

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Egypt’s headline inflation hits all-time high of 38.2% in July

Surging food prices helped July’s headline inflation numbers break the record of 36.8% in June.

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