Egypt’s annual urban headline inflation remained broadly stable for the third consecutive month at 26.5% in October 2024. The primary driver of headline inflation continued to be non-food inflation, which recorded 26.0% in October 2024 compared with 25.5% in September 2024. Meanwhile, annual food inflation has continued decelerating since 2023, reaching 27.3% in October 2024, the lowest in two years. Annual core inflation declined to 24.4% in October 2024 compared with 25.0% in September 2024, while monthly core inflation registered 1.3% in October 2024 compared with 1.8% in October 2023, and 1.0% in September 2024. Core food items contributed 0.80% to monthly core inflation, while retail items contributed 0.27% and services 0.23%.

Source: Daily News Egypt November 16, 2024 18:40 UTC