DUBAI: Egypt’s annual urban consumer price inflation slowed to 14.9 percent in June from 16.8 percent in May, data from statistics agency CAPMAS showed on Wednesday.
The drop in inflation is steeper than the median forecast of 15 analysts polled by Reuters, which had seen annual urban consumer inflation last month at 16.2 percent.
Urban food and beverage prices were down 1.2 percent overall compared to May 2025 but were up by 6.9 percent against June 2024, according to CAPMAS.
Urban inflation on a monthly basis inched down in June by 0.1 percent compared to May, as meat and poultry prices were down by 3.8 percent, fruits by 2.1 percent and vegetables by 1 percent, while the prices of bread and cereals were up by 0.3 percent and seafood by 0.8 percent.
Egypt’s annual inflation has plunged from a record high of 38 percent in September 2023, helped by an $8 billion financial support package agreed with the International Monetary Fund in March 2024.
