Egypt’s inflation rate increases by 2.3% in September 2024

According to the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s general consumer price index reached 236.5 points in September 2024, reflecting a monthly increase of 2.3 percent compared to August 2024. This uptick was driven by price hikes in several essential sectors.

Notably, the cereals and bread category saw a 0.7 percent increase, while meat and poultry prices also rose by 0.7 percent. The most significant jump occurred in the vegetable category, which surged by 12.4 percent. Other notable increases included fish and seafood prices, up by 1.7 percent; dairy, cheese, and eggs, which rose by 2.8 percent; and fruits, which increased by 1.7 percent.

Additionally, sugar and sugary foods experienced a 0.2 percent rise, coffee, tea, and cocoa increased by 0.9 percent, fabrics saw a 1.1 percent uptick, ready-made clothing rose by 0.8 percent, and shoe prices climbed by 0.3 percent.

On an annual basis, Egypt’s inflation rate was recorded at 26.0 percent in September 2024, a notable decrease from 40.3 percent in the same month last year. The report also indicated significant sectoral changes, including a 16.3 percent increase in outpatient services and a 21.4 percent rise in hospital services.

The transportation sector experienced a substantial 30.2 percent increase, largely attributed to a 24.2 percent rise in vehicle purchase costs, a 29.4 percent increase in private transportation expenses, and a 31.8 percent surge in transportation services. Furthermore, the telecommunications sector saw a 12.6 percent rise, primarily driven by a staggering 54.3 percent increase in postal service costs, a 28.3 percent rise in phone and fax equipment prices, and an 11.4 percent increase in phone and fax service charges.