Egypt's annual inflation rate rose for a second consecutive month in April, reaching 13.5% as food and fuel prices surged, according to a report released by the Central Agency for Public Mobilization and Statistics on Saturday.
The increase comes after inflation ticked up in March to 13.1%, reversing a five-month decline from 26.3% in October 2024 to 12.5% in February. April's figures mark a continuation of upward pressure on the cost of living, which had eased briefly earlier this year.
The report highlighted a broad increase in food and beverage prices, which climbed 6.2% year-on-year. The rise was fueled by a 12.9% increase in the cost of cereals and bread, along with higher prices for fish and seafood, which rose 6.9%, and dairy products and eggs, which went up by 5.3%. Fruit prices soared by 62%, marking the steepest jump among food items.
Tea, coffee, and cocoa increased by 7.8%, while bottled water, soft drinks, and natural juices recorded a 22.6% surge. Vegetable prices remained relatively stable, edging up just 0.2%.
Economists expect living costs to keep climbing after the Fuel Pricing Committee approved new hikes in fuel prices. The measure aligns with conditions from the IMF, which has urged Egypt to phase out energy subsidies and reflect actual costs.
Inflation is likely to rise further through the first half of 2025, possibly reaching 16%, according to Mostafa Shafie, head of research at Arabeya Online Securities.
In earlier comments to Al Manassa, he noted that fuel price increases will have a knock-on effect across most sectors in Egypt's economy.
