RIYADH: According to the most recent official figures, Egypt’s annual inflation rate increased from 12.5% in February to 13.1% in March. According to Egypt’s Central Agency for Public Mobilization and Statistics, the monthly consumer price index rose by 1.5 percent from February to 250.6 points. The shift was driven by higher costs in important food categories like meat, fruits, and vegetables, with some seeing double-digit annual increases.
According to the report, people across the country are being impacted by ongoing inflationary pressures in key sectors. The rise coincides with Egypt’s ongoing struggles with the consequences of currency devaluations, revisions to subsidies, and shocks to the world’s food and gasoline prices. The food and beverage sector was the main driver of the March inflation increase, according to the CAPMAS report, with year-over-year prices for fruits and vegetables rising by 76.7 and 6.6 percent, respectively.
The price of bread and cereals increased by 8.1 percent from March of last year, while the price of meat and poultry increased by 6.2 percent. As neighboring economies face differing levels of pricing pressure, inflation rates throughout North Africa continue to be uneven.
According to data portal Trading Economics, Algeria’s annual inflation rate increased to 4.7 percent in January, the highest level since October. Higher prices for food, clothing, and household expenses caused Morocco’s rate to rise more sharply from 2 percent to 2.6 percent in February, while Tunisia’s rate increased slightly from 5.7 percent to 5.9 percent in March. Although it is still among the highest in the world, Sudan’s hyperinflation rate slightly decreased to 142.34 percent in February from 145.14 percent.
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