Egypt’s annual urban consumer price inflation accelerated to 14.9% in July from 14.3% in June, marking the first pickup in headline price growth in four months.
Data released on Monday by state statistics agency CAPMAS showed the uptick was primarily driven by food and beverage prices, which surged to 8.0% year-on-year from 5.4% in June.
On a monthly basis, consumer prices were flat at 0.0% after contracting 0.4% in June. Transport inflation edged up to 24.5%, while clothing and footwear costs reached 13.7%.
The price rebound aligns with structural reforms under Egypt’s $8 billion International Monetary Fund loan program, which mandates rolling back energy subsidies and adjusting administered prices to reduce fiscal deficits.
Headline inflation remains well below its record high of 38% recorded in September 2023.
