Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Egypt’s headline inflation for urban areas was 35.7% in June, according to official statistics, a rise of three percentage points from May.
The Egyptian statistics agency, Capmas, recorded a June headline inflation rate of 36.8% for the country as a whole. It said the core inflation was 41%.
Media reports widely referred to the readings as record highs, with Business Insider Africa saying the urban figure is the highest since records began in 1958.
Since March 2022, the Central Bank of Egypt
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