The Central Bank of Egypt (CBE) released a report on the inflation rates in October 2023, showing a decrease in both headline and core inflation for the fourth consecutive month. The CBE highlighted that the annual inflation rates in October 2023 were affected by a favorable base effect, which means that the inflation rates in the same month last year were higher than usual. Prices of poultry and eggs increased by 11% and 8.9%, respectively, contributing 0.78% to the monthly headline inflation. Prices of dairy products, market sugar, and other core food items increased by varying rates, contributing 0.2% to the monthly headline inflation. Prices of regulated items remained broadly stable, with no significant contribution to the monthly headline inflation.
