Egypt’s Inflation Rate Rises to 18.7%, Highest in 5 Years: CAPMAS

Egypt’s Inflation Rate Rises to 18.7%, Highest in 5 Years: CAPMAS

Photo credit: Daily News Egypt

Egypt’s annual urban consumer inflation rate jumped to a five-year high of 18.7 percent in November, as announced by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Thursday, 8 December.

This inflation rate, which spiked from October’s 16.2 percent, marks the highest rate since December 2017, when inflation reached 21.9 percent.

According to a Reuters poll, 14 economists had predicted an inflation of 18.75 percent, as a result of the currency devaluation in October, and continued restrictions on imports.

Consumer inflation is defined as the price increase of services and goods over a period of time.

The quick month-on-month inflation, since the start of the Russia-Ukraine war, has underlined the negative implications of the war on the Arab world’s most populous nation.

With surging food prices, and increases in costs of almost all daily essentials, Egyptians are struggling to cope with the country’s current economic strife.

Subscribe to the Egyptian Streets’ weekly newsletter! Catch up on the latest news, arts & culture headlines, exclusive features and more stories that matter, delivered straight to your inbox by clicking here.

Morocco First African, Arab Nation to Reach World Cup Semi-Finals
How Does Egypt’s Travel Insurance Protect Egyptians Traveling Abroad?

Subscribe to our newsletter


A journalism graduate from the American University in Dubai who is curious, spontaneous, and often rebellious, Marina is a passionate Cairo-based journalist who aspires to become one of the most influential women in the Middle East. She likes to follow her heart and express that through words; her favorite form of expression.

More in News

Egypt Discovers ‘Oldest Mummy Ever Found’: Zahi Hawass

Egyptian Streets26 January 2023

Egypt’s Al-Sisi in India to Boost Strategic Partnerships and Investments

Farah Rafik25 January 2023

Forbes to Build its First-Ever Branded Tower in the New Administrative Capital

Marina Makary23 January 2023

Juhayna’s Founder and CEO Safwan Thabet and His Son Released From Prison

Egyptian Streets22 January 2023

Egypt Qualifies for Quarter-Finals of the 2023 Handball World Championship

Farah Rafik22 January 2023

Columbia University Names Nemat “Minouche” Shafik as 20th President

Mona Abdou20 January 2023

First All-Women UN Peacekeeping Unit is Formed of Only Egyptians

Mona Abdou19 January 2023

Handball World Championship: Egypt Defeats United States in a 35-16 win

Farah Rafik18 January 2023