Egypt’s Annual Inflation Eases to 35.2% in December 2023, report tells

Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) has, on Wednesday, reported a decline in the annual urban consumer price index, indicating a decrease to 35.2% in December 2023, down from 36.4% in November.

The latest data from CAPMAS highlights key factors contributing to the decline, including a notable drop in the prices of various commodities.

The decline in the cost of food and beverages, constituting the largest single component of the inflation basket, is a significant factor in the overall reduction in inflation.

Economic analysts have welcomed the news, emphasizing the positive impact this reduction in inflation could have on the overall economic stability of the country.

The Egyptian government and relevant authorities may use this development to evaluate and fine-tune their economic policies to ensure continued stability and growth in the coming months.