Egypt’s annual headline inflation rose to 33.7 percent in May, up from 15.3 percent in the same period of 2022, the country’s official statistics agency reported on Saturday.
Urban inflation increased by 2.7 percent in May month on month, among the highest records, said a report by the Central Agency for Public Mobilisation and Statistics (CAPMAS).
The high inflation in May was mainly driven by a rise in food prices, which grew by 58.9 percent year-on-year, health care costs, which increased by 18 percent year-on-year, and hotel and restaurant prices, which rose by 48.8 percent compared to the same period last year, the report explained.—Xinhua
