Egypt’s annual urban consumer price inflation increased marginally to 26.5% in October, up from 26.4% in September, according to data from the state-run statistics agency CAPMAS.
The figure came in slightly below expectations, with a median analyst forecast predicting a rise to 27%. Despite this, October marked the third consecutive month of rising inflation in Egypt.
On a monthly basis, headline inflation grew by 1.1% in October, matching September’s rate. Food prices, which continue to drive inflationary pressure, also increased by 1.1% in October, though at a slower pace than the 2.6% rise recorded in September. Year-on-year, food costs were up by 27.3%, underscoring the impact on household budgets.
The inflationary trend has been largely attributed to a rapid expansion of Egypt’s money supply. Data from the central bank shows that the M2 money supply increased by 29.59% year-on-year in September, contributing to price pressures in the economy.
