The Clap
Inflation recorded an increase of 14.6% in August 2022, its highest ever increase since November 2018.
The Deets
Analysts said that the increase in food and beverage prices was one of the main drivers of the rise in inflation.
Generally, the inflation rates were in line with the expectations of investment banks.
The government also raised the price of diesel for the first time since July 2019, by EGP 0.50 per liter, to reach EGP 7.25 per liter.
Why this Matters
Inflation rates remain higher than the CBE’s target inflation rate, which ranges from 5% – 9%.
Highest inflation rate in 4 years ⬆️
