Egypt November Inflation Rate Below Forecasts

Egypt’s annual urban inflation rate slowed to 11.9% in January 2026 from 12.3% in the previous month, though it remained above the market forecast of 11.7%. This marked the softest increase in consumer prices since last September, as the impact of higher fuel prices in October faded. Inflation eased for transport (27.5% vs 28.4% in December), restaurants and hotels (11.9% vs 12.8%), miscellaneous goods and services (10.4% vs 11.3%), and furnishings (10.8% vs 12.6%), while communications inflation remained steady at 0.4%. Meanwhile, inflation accelerated for food and non-alcoholic beverages (1.9% vs 1.5%), clothing (14.1% vs 12.8%), and housing (29.8% vs 29.2%) due to the lingering impact of rent increases. On a monthly basis, the CPI rose 1.2% in January, accelerating from a 0.2% gain in December and marking the fastest monthly increase in three months

Egypt’s annual urban inflation rate stood at 12.3% in December 2025, unchanged from the previous month and below the market forecast of 12.5%, as the impact of higher fuel prices in October faded. The latest reading came despite food inflation, a major component of the inflation basket, accelerating to 1.5% from 0.7% in October, which was the lowest level since April 2021. The acceleration in food prices was partly offset by a deceleration in transport costs (28.4% vs 28.9% in November), communications (0.4% vs 11.7%), and restaurants and hotels (12.8% vs 13.4%), while miscellaneous goods and services and clothing both remained steady at 11.3% and 14.9%, respectively. Meanwhile, furnishings inflation accelerated slightly (12.6% vs 12.4%), while housing inflation continued to rise (29.2% vs 27.9%) due to the lingering impact of rent increases. Monthly, the CPI rose 0.2% in December, easing slightly from a 0.3% gain in November and marking the softest monthly increase in five months.

Egypt’s annual urban inflation rate slowed to 12.3% in November 2025, down from October’s three-month high of 12.5% and below the market forecast of 13.1%. The deceleration was mainly driven by softer increases in food prices (0.7% vs 1.5% in October), the lowest since April 2021. Inflation also moderated for clothing (14.9% vs 15.7%) and communications (11.7% vs 11.9%), while furnishings remained steady at 12.4%. Meanwhile, housing prices (27.9% vs 27.1%) and transport costs (28.9% vs 26.0%) both rose faster, driven by higher fuel prices and a new law allowing landlords to raise rents. The government increased prices for a wide range of fuel products by nearly 13% on October 17. Also, prices for restaurants and hotels (13.4% vs 12.5%) and for miscellaneous goods and services (11.3% vs 11.0%) both accelerated in November. On a monthly basis, the CPI rose 0.3% in November, easing sharply from a 1.8% gain in October, marking the softest monthly increase in four months.