Egypt’s annual urban consumer price inflation accelerated to 13.6% in March from 12.8% in February, exceeding analysts’ expectations, according to data from the state statistics agency CAPMAS.
The median forecast of analysts polled by Reuters was for annual urban consumer inflation to have slipped to 12.6%.
Month-on-month, prices were 1.6% higher in March than in February, with food and beverage prices climbing 3.5% in March and rising by 6.6% annually, up from 3.7% in February.
The increase in inflation comes after a record high of 38.0% in September 2023, and despite efforts by the Egyptian government to control finances, including a currency devaluation, interest rate hikes, and an $8 billion financial support package with the International Monetary Fund.
