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Annual rural headline inflation decreased to 24.7 percent in July from 26.6 percent in June, while annual urban headline inflation fell to 25.7 percent from 27.5 percent over the same period
Egypt’s annual headline inflation decelerated to 25.2 percent in July 2024 from 27.1 percent in June, indicating a continued decline in inflation rates and easing price pressures, according to data released by Egypt’s Central Bank (CBE).
Annual core inflation also slowed to 24.4 percent in July, down from 26.6 percent in June, marking its lowest level since December 2022 and the fifth consecutive month of decline. Additionally, the CBE noted that monthly core inflation was negative 0.5 percent in July, compared to 1.3 percent in the same month last year.
Annual rural headline inflation decreased to 24.7 percent in July from 26.6 percent in June, while annual urban headline inflation fell to 25.7 percent from 27.5 percent over the same period.The reductions in urban and rural inflation were driven by both food and non-food items and benefited from favorable base effects from high inflation in 2023.
Food inflation declined to 29.7 percent in July from 31.9 percent in June, primarily due to a reduction in core food prices, while non-food inflation also eased to 22.9 percent from 24.5 percent in the same period.
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Monthly urban headline inflation stood at 0.4 percent in July, a decrease from 1.9 percent in July 2023 and 1.6 percent in June 2024. The rise in prices for volatile food items was offset by a drop in core food prices.
