Egypt sees high inflation rates
Egypt’s Central Agency for Public Mobilisation and Statistics (CAPMAS) noted that the country’s annual headline inflation rose to 21.9 percent in December 2022 – up from 6.5 percent in December 2021, according to the Al-Ahram newspaper
It is noted that in Egypt, inflation has reached a record level over the past five years due to the further rise in prices for essential goods.
For example, food prices in the country increased by an average of 4 percent per month, with dairy products increasing by over 6 percent, and fruits by almost 8 percent.
Earlier, Egyptian President Abdel Fattah el-Sisi noted that the rise in prices is associated with the consequences of the coronavirus pandemic and geopolitical tensions, but not with the economic policy of the government.
