Egypt’s annual inflation rate surged to 16.5 percent in May, up from 13.5 percent in April, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
Policymakers are likely to monitor these trends closely as they weigh options for containing inflation without dampening economic activity © Mena Today
Egypt’s annual inflation rate surged to 16.5 percent in May, up from 13.5 percent in April, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The Consumer Price Index (CPI) climbed to 258.4 points, marking a 1.8 percent increase month-on-month, as rising food, transportation, and utility costs continued to strain household budgets.
Fresh food and beverages were among the largest contributors to the inflation spike. Fruit prices soared by 13.4 percent, while vegetables rose 2.1 percent and fish and seafood increased by 2.4 percent.
Meat and poultry saw a more modest rise of 1.2 percent, with bottled drinks and juices up 1.3 percent, and ready-made meals increasing by 1.1 percent.
In the apparel sector, ready-made clothing rose 2.9 percent, fabrics 1.7 percent, and footwear 1.2 percent, reflecting seasonal shifts and costlier inputs.
Health-related expenditures saw significant increases, led by a 6.9 percent jump in medical products and equipment, while outpatient services rose 1.2 percent.
Despite these isolated decreases, the data underscore continued inflationary pressure across core spending categories. With food, health, transportation, and housing all recording notable increases, cost-of-living concerns remain front and center for Egyptian households.
Policymakers are likely to monitor these trends closely as they weigh options for containing inflation without dampening economic activity.
Greece and Egypt have agreed to safeguard the status of one of the world's oldest sites of Christian worship, foreign ministers of both countries said late on Wednesday, after an Egyptian court ruling last week cast uncertainty over its future.
Foreign investors returned to the Tel Aviv Stock Exchange in force last month, increasing their holdings despite ongoing conflict in Gaza and heightened regional tensions. Net foreign purchases reached an estimated NIS 2.5 billion ($700 million) in May, with much of the capital concentrated in the banking sector.
President Abdel Fattah El-Sisi received a phone call on Tuesday from President of the European Council, António Costa, during which the two leaders reaffirmed their commitment to deepening Egypt-EU cooperation on multiple fronts.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
