Egypt’s annual inflation rate fell to 12.2% in June, marking the third straight month of deceleration.
The decline was primarily driven by a moderation in food prices, which have been a key contributor to the country’s broader cost-of-living pressures.
The data suggests that the Central Bank of Egypt’s aggressive monetary tightening cycle is beginning to take hold.
By raising interest rates significantly over recent months, policymakers have aimed to curb demand and stabilize the currency, with the latest figures indicating that these measures are starting to dampen price growth.
Despite the positive trend, inflation remains high by historical standards.
The persistence of double-digit inflation underscores the ongoing challenges facing Egyptian households and businesses, particularly as the economy navigates structural reforms and external shocks.