Annual inflation slows to 12% in October, hitting lowest level since February

Egypt’s annual inflation rate cooled to 12% in October from 12.8% the prior month, dropping to its lowest mark since February when it touched 11.5%, the state statistics agency said on Thursday.

The Central Agency for Public Mobilization and Statistics (CAPMAS) attributed the monthly deceleration largely to seasonal relief in produce markets, where fruit prices dropped by 2.9% and vegetable costs fell by 2.6%.

Persistent upward pressure on everyday household staples nevertheless capped that relief. Price gains across meat and poultry, which rose 3.2%, alongside a 2.5% increase in dairy products, cheese, and eggs, limited the broader decline in the annual inflation index throughout the month.

The easing annual figure does not signal a net reduction in overall price levels for consumers. Instead, it reflects a deceleration in the speed at which prices are rising compared to the same period a year earlier.

The October pullback comes on the heels of a brief uptick in nationwide annual inflation in September, when the headline gauge edged up to 12.8% from 12.7% in August. That previous climb coincided with a 3.2% monthly jump in food and beverage costs, propelled by rising prices across vegetables, fruit, meat, and poultry.