Monthly headline urban CPI inflation, published by CAPMAS on September 10, 2023, recorded 1.6% in August 2023 compared to 0.9% in August 2022
While optimism about future output was limited, with only 9% of respondents expecting growth, concerns about” recessionary conditions” remained prevalent
CAPMAS also announced that Egypt’s consumer price index amounted to 181.1 points for the month of July 2023, recording an increase of 2% over the month of June 2023.
This rise was fueled largely by a 64.9% increase in food and beverage costs, a 58.9% increase in the cereals and bread group, and a 92.1% increase in the meat and poultry group.
There were signs of positive growth, as both output and new orders experienced slower declines, with the slowed decline suggesting a potential stabilization. The report also pointed towards easing inflationary pressures
