RIYADH: Egypt’s inflation slowed for a fourth consecutive month in September, easing to 10.3 percent year on year as consumer price pressures continued to moderate, official data showed.
The Central Agency for Public Mobilization and Statistics said the Consumer Price Index rose 1.5 percent month on month to 260.9 points, driven mainly by higher housing and utility costs.
Egypt’s inflation peaked at around 33.2 percent in September 2023 but has steadily eased since the government secured an $8 billion loan program from the International Monetary Fund in March 2024, which helped stabilize the currency and support policy reforms.
In its latest release, CAPMAS stated: “Housing, water, electricity, gas and fuel section recorded an increase of 3.4 percent due to an increase in prices of the actual rental group of houses by 1.3 percent, calculated rent group of houses by 7.1 percent, and group of maintenance and repair of houses by 1.4 percent.”
The report added that expenses for water and miscellaneous services related to housing increased by 0.2 percent, while electricity, gas, and fuel prices rose by 0.3 percent.
