Egypt’s September inflation rate of 26% was caused by increases in energy prices although it is a considerable decrease from the 40.3 per cent recorded in the same month of 2023.
Egypt’s general consumer price index hit 236 points, up 2.3% from August, according to the country’s Central Agency for Public Mobilisation and Statistics.
The price of gas, electricity, and other fuels increased by a significant 14.9%, which put additional strain on household expenses.
The inflationary pressure was also caused by a 0.7% increase in bread and cereals and a comparable increase in meat and poultry.
The cost of fish and seafood went up by 1.7%, while the cost of dairy, cheese, and eggs went up by 2.8%.
The cost of fruits increased by 1.7%, while the vegetable category saw a notable increase of 12.4%.
Prices of sugar and sugar-filled foods increased by 0.2%, while those of coffee, tea, and cocoa increased by 0.9%.
There were also increases in other categories: fabrics saw a 1% increase, ready-made garments saw an 8% increase, and footwear saw a 3% increase.
While furniture and furnishings saw a 0.8% increase in price, actual housing rent saw a 0.9% increase.
Household appliances saw a growth of 1% and home maintenance goods and services of 4%.
Hospital services saw a 1.3% increase, while medical products and equipment saw a 3% increase.
Vehicle purchases increased by 2.3%, while transportation costs—including private carrier expenses—rose by 1%.
Some regions experienced a decrease despite these increases, with hotel service costs falling by 0.1%.
Nevertheless, the overall upward trend in other sectors was not sufficiently offset by this decline.
Egypt has tightened its monetary policies by USD 8 billion IMF financial support package signed in March.
As part of the programme, the nation must undertake several economic changes, such as increasing domestic prices and permitting the currency to weaken.