Arab News: Egypt’s annual inflation rate rose to 13.1 percent in March, up from 12.5 percent in the previous month, according to the latest official data.
The monthly consumer price index also increased by 1.5 percent compared to February, reaching 250.6 points, Egypt’s Central Agency for Public Mobilization and Statistics reported.
Higher prices in key food categories including fruits, vegetables, and meat, drove the change, with some items experiencing double-digit year-on-year surges.
The data indicates continued inflationary pressures across essential sectors, affecting households nationwide.
The increase comes as Egypt continues to contend with the effects of currency devaluations, subsidy reforms, and global food and fuel price shocks.
The CAPMAS report revealed that the food and beverage division was the primary contributor to the March inflation increase, with year-on-year prices for fruits soaring by 76.7 percent and vegetables climbing by 6.6 percent.
Meat and poultry rose by 6.2 percent, while the price of cereals and bread jumped 8.1 percent compared to March last year.
Across North Africa, inflation trends remain mixed as neighboring economies contend with varying degrees of price pressures.
Algeria’s annual inflation rate rose to 4.7 percent in January, its highest since October, according to data platform Trading Economics. Morocco saw a sharper increase to 2.6 percent in February from 2 percent, while Tunisia’s rate edged up to 5.9 percent in March from 5.7 percent, driven by higher food, clothing, and household costs.
Sudan, still grappling with hyperinflation, saw a slight easing to 142.34 percent in February from 145.14 percent, though it remains among the world’s highest.
In Egypt, notable annual increases were recorded in the clothing and footwear segment, which rose 18.3 percent, driven by a 22.9 percent spike in shoes and a 19.4 percent rise in ready-made garments.
Housing and utility costs also advanced, registering a 17.4 percent increase year on year. This was attributed to a 36.5 percent surge in electricity, gas, and other fuel prices.
Healthcare saw a significant rise as well, with hospital services up by 19.8 percent and outpatient services by 12.6 percent, contributing to a 25.5 percent overall increase in the group.
In transportation, private vehicle purchase prices rose by 29.5 percent, while transport services increased 35 percent over the year.
Inflation in communication services also surged, led by an 89.2 percent increase in postal services.
Prices for cultural and recreational services climbed by 18.3 percent, reflecting hikes in book prices, organized travel services, and entertainment products.
The education sector saw an average price increase of 10 percent, with pre-primary and primary education costs rising by 12.5 percent.
Additionally, university education and other unspecified levels posted increases of 4.3 percent and 12.2 percent, respectively.
The accommodation and food service sector experienced an 11.3 percent rise in prices, while miscellaneous goods and services such as personal care items and travel gear increased by 13.5 percent.
On a monthly basis, food prices rose across several categories, with bread and cereals up by 0.5 percent, meat and poultry by 2.8 percent, fish and seafood by 0.7 percent, and fruits by 0.2 percent.
Vegetables increased by 3.1 percent in March compared to February.
https://www.arabnews.com/node/2596538/business-economy
