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Egypt’s Annual Consumer Price Inflation Rate Rises to 36.5% in July

August 10, 2023

Egypt’s Annual Inflation Rate Rises to 36.5%

Egypt’s Department of Mobilization and Statistics announced Thursday that the annual consumer price inflation rate in Egyptian cities rose to 36.5% in July from 35.7% in June, Reuters reported.

Inflation Expected to Continue Rising in Egyptian Cities

A Reuters poll yesterday showed that Egyptian cities are expecting inflation to pick up again in July after hitting a record high in June, with food prices continuing to rise.

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Analysts Forecast 36.5% Inflation Rate for July

The average forecast of 15 analysts who participated in the survey showed that annual urban consumer price inflation rose to 36.5% in July from 35.7% in June. The previous highest level was recorded in July 2017 and reached 32.95%.