Egypt’s annual core inflation rate rose to 31.2% in January 2023, compared to 24.4% in December 2022, the Central Bank of Egypt (CBE) revealed in a press release on February 9th.

The monthly core consumer price index (CPI) inflation recorded 6.3% last January, compared to 0.8% in the same month of 2022 and 2.6% in December 2022, the CBE added.

According to the CBE, the annual headline urban CPI inflation recorded 25.8% in January, compared to 21.3% in December.

It is worth noting that the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt’s annual headline inflation rate increased to 26.5% in January 2023, compared to a record of 8% in January 2022.