Inflation edges up to 29.8% Y-o-Y in June from 29.7% Y-o-Y in May, but slows to 0.8% M-o-M
Egypt’s annual consumer price index edged up to 29.8% in June from 29.7% in May, but slowed on a monthly basis to 0.8% M-o-M from 1.7% M-o-M in May, data from CAPMAS showed. Clothes and footwear jumped to 29.7% Y-o-Y from 19.1% Y-o-Y, and to a record 12.1% M-o-M after being stable for six months. The jump coincides with Eid holidays when purchases of clothes normally spike. Food and beverages prices slowed to 40.3% Y-o-Y from 41.1% in May, and to 0.6% M-o-M from 2.0% M-o-M. Meanwhile, housing and utility costs remained steady at 7.7% Y-o-Y and witnessed no changed on monthly basis. Transportation prices also grew at 25.9% Y-o-Y, with no change M-o-M. Furniture and equipment slowed to 28.2% Y-o-Y from 29.2% Y-o-Y in May, but edged up to 0.3% M-o-M from 0.1% M-o-M in May.
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