Egypt’s annual inflation jumps to 16.2% in October to surpass November 2018 figures

By Doaa A.Moneim | Ahram Online Published: November 11, 2022 2:45 PM

Egypt’s annual headline inflation rose from 15 percent in September to 16.2 percent in October to surpass the 15.7 percent mark registered in November 2018, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced on Thursday.

CAPMAS reported that the monthly headline inflation increased by 2.5 percent in October compared to September, driven mainly by the rise in food and beverage prices (3.2 percent), healthcare (1.3 percent), and education (7.7 percent).

Egypt’s headline inflation has been accelerating in the double digits zone since the outbreak of the Russia-Ukraine war in February.

The Central Bank of Egypt has hiked key interest rates three times since the start of the war by a total of five percent to reign in inflation,  

Ahram Online

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