Egypt inflation likely rose to 15.6% in July, poll says

Reuters | August 6, 2026 | 05:41 PM IST | Breaking News, Business, Markets | Follow on Google News

Egypt inflation likely rose to 15.6% in July, poll says

CAIRO, Aug 6 (Reuters) – Egypt’s annual headline inflation rate ‌is expected to have accelerated in July to 15.6% from 14.3% in June, driven by an unfavourable base effect and stronger food and non-food price pressures, a Reuters poll found.

The government statistics agency CAPMAS is due to release the July data on Monday, August 10.

Mohamed Abu Basha at EFG Holding said ​he expects a muted month-on-month reading of 0.5%, but an unfavourable base will ​lift the annual headline figure, adding that this is likely to continue in August before the ‌base ⁠normalises and inflation starts a downward trend in the fourth quarter of 2026.

Egypt raised electricity prices for most consumption brackets by an average of 12% earlier this month, which is expected to feed into the August print, Daniel Richards of Emirates NBD said.

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Egypt ​has been gradually removing ​fuel and electricity ⁠subsidies as part of commitments under its $8 billion support package with the International Monetary Fund, a process that has repeatedly fed ​through into consumer prices even as headline inflation has cooled.

Annual ​inflation had ⁠plunged from a record high of 38% in September 2023, helped by the IMF-backed reform programme agreed in March 2024, before renewed pressure from base effects and administered price hikes ⁠pushed ​the rate higher again in recent months.

Core inflation ​was forecast at a median of 14.9%, according to a smaller sample of three analysts, with forecasts ranging ​from 14.4% to 15.1%.

Reuters