Egypt's inflation rate decreased to 28.1% annually in May, down from 32.5% in April.
Egypt's inflation rate slowed to the lowest in over a year and a half, despite a steep currency devaluation and subsidized bread cost increase. Consumer prices grew 28.1% annually in May, down from 32.5% in April. The decline was mainly due to a 3% drop in food and beverage prices, the largest single component of the inflation basket. Goldman Sachs predicts that Egypt's inflation rate will drop to 10% by end of June 2025.
June 10, 2024
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