Egypt’s annual urban inflation increased to 35.7% in June 2023 from 32.7% in May 2023. Following its pick up in May 2023, annual core inflation increased to 41% in June 2023 from 40.3% during the previous month. On a monthly basis, core inflation recorded 1.7% in June 2023, compared to 1.2% in June 2022. Non-Food inflation increased due to a market increase in tobacco prices, in addition to higher retail items and services prices. Core food items, services, and retail items contributed by 0.97, 0.36, and 0.37% to monthly core inflation, respectively.
