Egypt’s Inflation Hits New Record as Pound Devaluation Looms

Egypt’s inflation accelerated to another record high, with a new surge in food costs heaping more pressure on a country struggling with a debilitating foreign-currency crunch.

Consumer prices in urban parts of the country rose an annual 36.5% in July, up from 35.7% the previous month, according to figures released Thursday by the state-run CAPMAS statistics agency. On a monthly basis, inflation was 1.9%, compared with 2.1% in June.