Annual inflation rate in Egypt falls to lowest level in 2 years in December
Date
1/12/2025 2:57:30 AM
(MENAFN) Egypt’s annual inflation rate has fallen to its lowest level in two years, according to official data released on Thursday. The state statistics agency, CAPMAS, reported that the inflation rate decreased to 23.4 percent in December, down from 25 percent in November. This marks a significant reduction in the inflationary trend, with the agency attributing the decline to a drop in the prices of certain food and beverage items.
In urban areas, annual consumer prices also showed a slowdown, rising by 24.1 percent in December compared to a 25.5 percent increase in November. This marked the second consecutive month of decelerating inflation, suggesting a potential stabilization in the cost of living for residents in urban areas. The government’s efforts to control inflation appear to be having some positive effects, although challenges remain.
Looking at the broader picture, CAPMAS revealed that the annual inflation rate for 2024 reached 28.3 percent, a notable decrease from 33.9 percent in 2023. However, this figure still remains well above the 2022 inflation rate, which stood at 13.9 percent. Despite the decline, inflation continues to pose a significant challenge for the Egyptian economy.
This reduction in inflation comes amid a series of economic adjustments, including the devaluation of the Egyptian pound in March, which saw the currency trade at 50 pounds to the US dollar. In addition, Egypt has raised the prices of essential goods and services, such as fuel, electricity, subsidized bread, medicine, and transportation, to manage the country’s economic difficulties.
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