RIYADH: Egypt’s annual headline inflation rate slowed sharply to 10.3 percent in December, down from 23.4 percent in the same month a year earlier, official data showed. 

According to the Central Agency for Public Mobilization and Statistics, the overall consumer price index reached 264.2 points in December. On a monthly basis, inflation rose marginally by 0.1 percent. 

CAPMAS attributed the annual deceleration primarily to a decline in food prices, including a 1.1 percent drop in meat and poultry, 1.2 percent in dairy, cheese and eggs, 1 percent in fruits, 2 percent in vegetables, and 0.1 percent in sugar and sugary products. 

Prices of household appliances, audio-visual equipment and information technology devices also declined by 0.5 percent and 0.4 percent, respectively. 

However, other categories recorded increases, including grains and bread by 0.1 percent, oils and fats by 0.3 percent, and beverages such as coffee, tea and cocoa by 0.1 percent. 

Month-on-month inflation showed limited movement, with food and beverage prices falling by 0.8 percent due to similar declines in meat, dairy, fruit and vegetable prices. In contrast, modest cost increases were recorded in grains, oils and beverages. 

Alcohol and tobacco prices rose by 0.2 percent, while clothing and footwear increased by 0.7 percent, driven by higher prices for fabrics, up 1.6 percent, ready-made garments, up 0.4 percent, and footwear, up 1.6 percent. 

Housing and utilities recorded an increase of 1.5 percent, reflecting a 1.9 percent rise in actual rents, a 1.6 percent increase in electricity, gas and other fuels, and a 0.5 percent rise in maintenance costs. 

Furniture and household equipment prices climbed 0.9 percent, while healthcare rose by 0.5 percent, led by outpatient services, up 1 percent, and hospital services, up 1.8 percent. Transport costs increased by 0.2 percent, and recreational and cultural services rose by 0.6 percent, including a 1.5 percent increase in organized travel. 

Annual inflation data showed a broad-based increase across most sectors. Food and beverages rose by 0.9 percent year on year, with fruits up 22.6 percent, despite a 4.1 percent decline in meat and poultry and a 4.8 percent drop in vegetables. 

Alcohol and tobacco prices jumped 18.2 percent, while clothing and footwear climbed 14 percent. Housing and utilities surged 22.5 percent, largely due to higher rents and energy prices. 

Healthcare recorded one of the highest annual increases at 23.9 percent, driven by a 28.9 percent rise in medical equipment prices and a 21 percent increase in hospital services. Transport costs rose by 21.1 percent, education by 10 percent, and restaurants and hotels by 13 percent. 

The category of miscellaneous goods and services registered a 12.2 percent annual increase, with personal care products rising 13 percent and personal belongings up 27.2 percent.