Egypt’s headline inflation rises to record 36.5 pct in July as food prices soar

Egypt’s annual headline inflation in July rose to an all-time high of 36.5 percent, in line with analysts’ expectations, as food prices soared, data from the country’s statistics agency CAPMAS showed on Thursday.

Headline inflation was 35.7 percent in June, also a record high. Month on month, prices rose 1.9 percent in July, down from 2.08 percent in June.

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The median forecast of 15 analysts polled showed annual urban consumer inflation rising to 36.5 percent in July. The previous high of 32.95 percent was recorded in July 2017.

Food and beverage prices rose by an annual 68.4 percent in July, CAPMAS said.

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