Egypt's Inflation Rises for First Time Since March as Rent and Fuel Costs Climb

Egypt's annual urban consumer price inflation quickened in July, marking the first acceleration since March and ending a months-long easing streak.

The Central Agency for Public Mobilisation and Statistics said annual urban inflation had eased to 14.6 percent in May from 14.9 percent in April, following a dip from 15.2 percent in March.

The recent acceleration stems from a jump in rents and sustained pressure from earlier fuel price hikes. Transport inflation slowed only marginally, to 24.4 percent in June from 24.7 percent in May.

Egypt raised fuel prices 14 percent to 17 percent across a range of petroleum products in early March—the first such increase in 2026—contributing to persistent cost pressures.

The acceleration comes as the U.S.-Iran war weighs on Egypt's import-reliant economy, pushing domestic costs higher.

The re-acceleration raises the likelihood that Egyptian monetary authorities will leave interest rates unchanged at their next meeting, keeping policy focused on anchoring price stability.

While annual inflation rates eased in both May and April, CAPMAS data showed monthly inflation accelerated during those same periods, indicating underlying price pressures persisted despite the headline annual slowdown.