Egypt’s Headline Inflation Soars to 31.9 Percent in February – Reuters 3/9/23


Egypt’s annual urban consumer inflation rate in February leapt to a higher-than-expected 31.9 percent, its highest in five and a half years, from 25.8 percent in January, data from statistics agency CAPMAS showed on Thursday.

The soaring inflation follows a series of currency devaluations starting in March 2022, a prolonged shortage of foreign currency and continuing delays in getting imports into the country.

The Egyptian pound has fallen by nearly 50 percent since March….

Read More…