Inflation & Prices
Egypt Inflation Quickens for Second Month as Subsidy Cuts Weigh
- Latest figures may delay country’s first rate cut since 2020
- Authorities hiked fuel and electricity prices in August
A convenience store in the Nasr City district of Cairo.
Photographer: Islam Safwat/BloombergThis article is for subscribers only.
Egyptian inflation quickened slightly for a second month on a sharp hike in energy costs, potentially pushing back the timing of the North African nation’s first interest-rate cut since 2020.
Annual consumer prices in urban areas rose 26.4% in September versus 26.2% the month before, state statistics agency CAPMAS said Wednesday. The index increased 2.1% month-on-month, the same rate as in August.