Month-on-month inflation in Egypt records negative rate for 1st time in 2022

The Cabinet declared Monday that month-on-month inflation in urban areas dropped for the first time in six months in spite of the continuing repercussions of the Russia-Ukraine War, attributing this to not suspending under-progress mega national projects and taking measures aimed at expanding the share of the private sector in the economy.

The Cabinet clarified that the decline in the prices of fruits and vegetables is the main cause of the drop in June 2022. For the first time since December 2021, a negative inflation occurred recording -0.1 percent.

The rate in the previous months was 1.1 percent in May, 3.3 percent in April, 2.2 percent in March, 1.6 percent in February, and 0.9 percent in January. Month-on-month inflation was relatively high in July 2021 as it was 0.9 percent.