Egipto Actividad económica May 2023

Egipto: Inflation comes in at highest level since July 2017 in May

Inflation increased to 32.7% in May, above April’s 30.5%. May’s figure represented the highest inflation rate since July 2017. The reading was driven by rising price pressures for food and non-alcoholic beverages and transportation.

The trend pointed up, with annual average inflation coming in at 22.5% in May (April: 20.8%). Meanwhile, core inflation rose to 40.3% in May, from April’s 38.6%.

Finally, consumer prices increased 2.72% in May over the previous month, picking up from April’s 1.66% increase.