Egypt's annual headline inflation declines to 31.8% in April 2024: CAPMAS

In April 2024, Egypt's annual headline inflation declined to 31.8 percent, down from 33.1 percent in March, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS). This decrease in inflation can be attributed to the increased availability of foreign exchange following a recent currency flotation, which helped alleviate some of the price pressures in the country with the largest population in the Middle East. The general consumer price index reached 223.6 points in April 2024. On a monthly basis, food and beverage prices decreased by 0.9 percent, while on an annual basis, they increased by 37.6 percent. The overall monthly inflation rate for the entire country was recorded at 0.9 percent in April 2024, compared to 1.0 percent in March 2024. According to the International Monetary Fund (IMF), it expects inflation in Egypt to slow down further to 15.3 percent by the end of June 2025, which marks the conclusion of the next fiscal year, based on its latest estimate. The IMF also projects that inflation will increase to 32.1 percent by the end of the following month.             Egypt Today

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