Inflation in Egypt rises to 36%. Food, drinks, clothing, housing, water and electricity all increase.
On a monthly basis, the inflation rate increased to 11% during the past month of 2024 from 1.7% last January. Governor of the Central Bank of Egypt, Hassan Abdullah, said that Cairo aims to reduce inflation rate to single digits (below 10%) in the medium term. Egypt is also seeking a separate loan from the IMF's Sustainability and Resilience Fund, which promotes financing the climate transition.