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Egypt’s annual urban consumer inflation rate surged to 32.7 percent year-on-year in March, up from 31.9 percent in February, data from the country’s official statistics agency CAPMAS released on Monday.
The figures added that the total consumer price index has increased over the past March to 166.5 points, compared to 161.3 points during February 2023, as Egypt’s monthly inflation rate rose by 7.1 percent in February, from 4.9 percent in January.
In July 2017, Egypt reached the highest inflation rate ever by 32.952 percent, eight months after Egypt devalued its currency by half as part of a previous $12 billion IMF support package.
