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The annual urban inflation continued its downward trend for the third consecutive month, registering 33.7% in December 2023, compared to 34.6% in November. The overall Consumer Price Index for the whole country reached 194.2 points in December 2023, indicating an annual inflation rate of 35.2%, down from 36.4% in November 2023
Egypt’s monthly core inflation, computed by the Central Bank of Egypt, dropped to 1.3% in December 2023, compared to 2.6% in the same month of the previous year and 1.0% in November 2023. The annual core inflation rate declined to 34.2% in December 2023, compared to 35.9% in November 2023.
The annual urban inflation continued its downward trend for the third consecutive month, registering 33.7% in December 2023, compared to 34.6% in November. The overall Consumer Price Index for the whole country reached 194.2 points in December 2023, indicating an annual inflation rate of 35.2%, down from 36.4% in November 2023.
The decline was mostly due to a decrease in meat and poultry prices by 1.7%, while prices for grains and bread increased by 4.5%. Dairy, cheese, and egg prices rose by 1.7%, oils and fats by 2.8%, fruits by 4.0%, vegetables by 5.3%, sugar and sugary foods by 2.0%, coffee, tea, and cocoa by 1.6%, and mineral water, soft drinks, and natural juices by 1.1%.
Fabric prices increased by 2.7%, ready-made clothing by 2.0%, furniture, furnishings, carpets, and other floor coverings by 1.4%, household linens by 2.9%, household appliances by 2.3%, and glassware, tableware, and household utensils by 2.3%.
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Hospital service prices increased by 3.0%, vehicle purchases by 2.3%, audiovisual equipment, cameras, and information processing equipment by 2.3%, ready-made meals by 2.6%, hotel services by 1.4%, and personal luggage by 3.4%. The monthly inflation rate for the entire Republic was 1.2% in December 2023, compared to 0.9% in November 2023.
