Egypt’s annual headline inflation decrease to 23.4%, core inflation to 23.2%

The Central Agency for Public Mobilization and Statistics (CAPMAS) reported that Egypt's general consumer price index reached 239.7 points in December 2024, reflecting an annual headline inflation rate of 23.4 percent, down from 25.0 percent in November 2024.

Data from the Central Bank of Egypt (CBE) showed that the monthly core inflation rate was 0.9 percent in December 2024, compared to 1.3 percent in December 2023 and 0.4 percent in November 2024.

On a yearly basis, core inflation eased slightly to 23.2 percent in December 2024, from 23.7 percent in the previous month.

In its recent Monetary Policy Committee meeting, the CBE revised its inflation targets, setting an average of 7 percent ±2 percentage points by Q4 2026 and 5 percent ±2 percentage points by Q4 2028.

This revision aims to provide more flexibility in handling price shocks without imposing further stringent monetary policies.

 Previously, the targets were set for 7 percent ±2 percentage points by Q4 2024 and 5 percent ±2 percentage points by Q4 2026.