Egypt Watch

Food prices soar with rising inflation in Egypt

Food products in Egypt have soared after a series of consecutive increases started in 2021, with the price of sugar rising 25 per cent and flour 30 per cent. The popular flour tonne increased to EGP 7,000 in July compared to EGP 5,400 in January 2021, and the fine flour tonne increased by 13 per cent from EGP 7,600 to EGP 8,600, while the cooking oil tonne doubled from EGP 10,000 to EGP 20,000. In general, the Consumer Price Index in Egypt recorded 6.1 per cent last July, compared to 5.3 per cent in June and 4.6 per cent in July 2020. CPI in cities also recorded a 5.4 per cent annual growth and 4.9 per cent monthly growth in July.

According to the Central Agency for Public Mobilisation and Statistics, CPI broke a record in July hitting 114.4 points, which represents a one per cent increase from June. CAPMAS added that monthly inflation grew by one per cent during July, compared to a 0.3 per cent growth during June. This increase is attributed to the rise of electricity, gas and other fuel prices by 8.9 per cent, food and drinks at 5.4 per cent, transport at 7.8 per cent, tourist travels at 6.9 per cent, milk products at 2.2 per cent, smoking products at 1.7 per cent, and education at 29.7 per cent. Accordingly, experts predict the continuous increase of inflation over the upcoming months.