Prices in Egypt have risen across many sectors, from food items and medical services to housing and furniture.
Egypt continues to battle surging inflation amid a dramatic slide of its currency as many Egyptians struggle with price hikes, the country’s statistics bureau has said.
The state-run Central Agency for Public Mobilization and Statistics (CAPMAS) released figures showing that the annual inflation was at 21.9 percent last month, up from 19.2 percent in November.
That is compared with 6.5 percent in December 2021, before inflation ballooned in 2022, following the outbreak of Russia’s war on Ukraine that rattled the world economy.
Prices in Egypt rose across many sectors, from food items and medical services to housing and furniture.
“Food and beverages were up 4.6 percent month-on-month (adding to the 4.5 percent in November), impacted mainly by bread and cereals, dairy, vegetables and meat,”
This goes somewhat towards absorbing a 25 percent devaluation in late October but portends more inflation to come, Sandeep said.
The higher inflation has inflicted heavy burdens on consumers, especially lower-income households. Nearly 30 percent of Egyptians live in poverty, according to official figures.