Egypt's annual urban inflation reached 35.7% in February, primarily due to food and beverage price increases; month-on-month, prices rose 11.4%, up from 1.6% in January.

Egypt's annual urban inflation jumped to 35.7% in February, driven mainly by a rise in food and beverage prices. Month-on-month, prices rose by 11.4% in February, up from just 1.6% in January. This marks a significant increase from January's rate of 29.8%. The central bank has tightened its monetary policy, increasing key interest rates by a total of 19% in an effort to address the escalating inflation.

March 10, 2024
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